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CBOT February Volume Rises To New Monthly High; ADV Up 40.1% From Last Year - Financial And Agricultural Complexes Reach Monthly Volume Peaks

Date 01/03/2005

The Chicago Board of Trade (CBOT) announced today that Exchange-wide volume climbed to a new monthly record in February. Total volume for the month was 61,399,407 contracts, up 40.1 percent from 2004 and 36 percent from January. The prior all-time monthly record was 59,467,507 contracts set in November 2004.

Year-to-date (YTD) through February, total volume was up 25.4 percent to 106,557,501 contracts. Exchange-wide average daily volume in February increased 40.1 percent from levels seen in the prior year to 3,231,548 contracts.

CBOT President and CEO Bernard W. Dan said, “We are pleased with the Exchange’s many successes in February. The CBOT extended its outstanding performance by setting a new Exchange-wide daily trading volume record, as well as reaching several records in each of its major product groups. With a commitment to providing cutting-edge technology in both our open auction and electronic trading environments, an innovative product mix offering a multitude of opportunities for efficient risk management, and highly liquid and transparent markets that serve as benchmarks for global pricing, the CBOT continually demonstrates that meeting the needs of customers is its number one priority.”

Exchange-wide open interest set a record of 13,481,427 contracts on February 17. Total Exchange open interest at the end of February rose 28.8 percent from last year to 11,801,027 contracts.

Daily volume Exchange-wide rose to a new high of 5,852,889 contracts on February 28. On the CBOT’s electronic trading platform, total volume soared to a new monthly record of 38,078,026 contracts in February. In addition, electronic volume in CBOT Financial options rose to a new monthly high of 433,075 contracts.

The CBOT’s Financial futures and options complex set a new monthly volume record at 50,663,610 contracts, with Financial futures rising to a new monthly high of 42,491,190 contracts. The U.S. Treasury futures complex soared to a new volume record of 41,704,848 contracts in February. CBOT Five-Year U.S. Treasury Note futures rose to a monthly high of 11,168,443 contracts, and Two-Year U.S. Treasury Note futures rose to a new record of 1,997,529 contracts.

The CBOT’s Agricultural futures complex also set a record, with volume rising to 7,593,290 contracts in February. Within the complex, Wheat futures trade rose to a monthly high of 1,053,564 contracts, and Soybean Oil futures trade rose to a monthly high of 799,873 contracts.

Year-to-date through February, 700,779 futures and options orders, excluding futures spreads, were electronically sent directly to floor brokers using Electronic Clerks, or order receipt devices. In addition, in February, a new high of 84 percent of total Agricultural futures orders were filled electronically, compared to 76 percent in February 2004.

Financial Futures and Options Highlights

  • Financial futures and options complex trade was up 47.7 percent from last year and 36.5 percent from January to 50,663,610 contracts. Volume rose 31.2 percent YTD to 87,777,026 contracts.
  • Financial futures volume rose to a new record of 4,551,555 contracts on February 28.
  • Five-Year Treasury Note futures volume rose to a new daily record of 1,185,991 contracts on February 28.
  • Two-Year Treasury Note futures volume rose to a new daily record of 277,005 contracts on February 25.
  • Ten-Year Treasury Note futures open interest rose to a new record of 2,083,309 contracts on February 24.
  • Two-Year Treasury Note futures open interest rose to a new record of 388,961 contracts on February 25.
  • U.S. Treasury Bond futures volume rose 55.7 percent from last year and 46.3 percent from January to 8,973,476 contracts. Volume rose 40 percent YTD to 15,108,239 contracts.
  • Ten-Year Treasury Note futures rose 34.3 percent from last year and 40.7 percent from January to 19,565,400 contracts. Volume rose 18.8 percent YTD to 33,466,664 contracts.
  • Five-Year Treasury Note futures rose 51.2 percent from last year and 43.2 percent from January to 11,168,443 contracts. Volume rose 43.2 percent YTD to 18,966,117 contracts.
  • Two-Year Treasury Note futures rose 140.7 percent from last year and 109.4 percent from January to 1,997,529 contracts. Volume rose 158.8 percent YTD to 2,951,257 contracts.
  • Thirty-Day Fed Fund futures rose 55.5 percent from last year to 697,485 contracts and 70.6 percent YTD to 1,533,735 contracts.
  • U.S. Treasury Bond options rose 84.7 percent from last year and 48.7 percent from January to 1,678,687 contracts. Volume rose 15.7 percent YTD to 2,807,425 contracts.
  • Ten-Year Treasury Note options rose 27 percent from last year to 4,129,267 contracts.
  • Five-Year Treasury Note options rose 97.1 percent from last year and 11.3 percent from January to 1,812,084 contracts. Volume rose 80.4 percent YTD to 3,439,693 contracts.
  • Two-Year Treasury Note options rose 16.8 percent YTD to 3,993 contracts.
  • Thirty-Day Fed Fund options rose 265.9 percent from last year to 435,675 contracts and 289.8 percent YTD to 937,784 contracts.

Agricultural Futures and Options Highlights

  • Agricultural futures and options complex trade was up 12.5 percent from last year and 56.7 percent from January to 8,989,734 contracts.
  • Corn futures volume rose to a new daily record of 314,154 contracts on February 25.
  • Wheat futures volume rose to a new daily record of 117,004 contracts on February 22.
  • Soybean futures volume rose to a new daily record of 185,755 contracts on February 22.
  • Soybean Oil futures volume rose to a new daily record of 78,559 contracts on February 22.
  • Soybean Meal futures volume rose to a new daily record of 71,813 contracts on February 18.
  • Wheat futures open interest rose to a new record of 234,772 contracts on February 14.
  • Wheat futures volume rose 36.5 percent from last year and 71.9 percent from January to 1,053,564 contracts. Volume rose 16.7 percent YTD to 1,666,544 contracts.
  • Corn futures rose 13.3 percent from last year and 82.6 percent from January to 2,680,775 contracts.
  • Mini Corn futures rose 99.1 percent from January to 9,155 contracts.
  • Soybean futures rose 11 percent from last year and 49.1 percent from January to 2,085,783 contracts.
  • Mini Soybean futures rose 42.2 percent from last year and 90 percent from January to 48,815 contracts. Volume rose 23.4 percent YTD to 74,501 contracts.
  • Soybean Meal futures rose 11.8 percent from last year and 30.2 percent from January to 857,564 contracts. Volume rose 7.1 percent YTD to 1,516,266 contracts.
  • Soybean Oil futures rose 10.7 percent from last year and 68.4 percent from January to 799,873 contracts.
  • Wheat options rose 28.7 percent from last year and 8.8 percent from January to 161,372 contracts. Volume rose 13.1 percent YTD to 309,711 contracts.
  • Soybean options rose 42.9 percent from last year and 60.2 percent from January to 703,520 contracts. Volume rose 21.3 percent YTD to 1,142,731 contracts.
  • Soybean Meal options rose 29.4 percent from last year and 97.6 percent from January to 97,159 contracts.
  • Soybean Oil options rose 35.4 percent from January to 55,301 contracts.

Precious Metal Futures

  • Precious Metals futures trade rose 51.5 percent to 58,959 contracts and 64 percent YTD to 132,402 contracts.
  • Full-Sized Gold futures open interest rose to a new record of 3,665 contracts on February 28.
  • Mini-sized Silver futures volume rose 23.9 percent from January to 14,292 contracts and 11.1 percent YTD to 25,826 contracts.
  • Full-Sized Silver futures rose 7.3 percent from January to 5,078 contracts.

Equity Complex Futures and Options

  • DJIA(SM) futures and options complex trade was up 14.7 percent from last year to 1,686,215 contracts and 25 percent YTD to 3,917,924 contracts.
  • Mini-sized Dow ($5) futures rose 19.3 percent from last year to 1,480,372 contracts and 32.6 percent YTD to 3,488,565 contracts.
  • DJIA options rose 42.5 percent from January to 9,850 contracts.
  • Mini-sized Dow ($5) options rose 31.1 percent from January to 88,169 contracts.

Seat Sales

  • CBOT Full Membership last traded at $1,302,500 on February 28, 2005. CBOT Associate Membership last traded at $425,000 on February 1, 2005. CBOT COM membership last traded at $145,000 on February 23, 2005.
  • CBOT IDEM Membership last traded at $59,000 on February 25, 2005.

For more information on CBOT products, visit the Exchange’s Website at www.cbot.com.

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