CBOT Fed Funds Contract Sets New Volume Record, Year To-Date Volume Up 36% From Last Year

The Chicago Board of Trade announced today that CBOT members set a new daily volume record in the 30-day Federal Funds futures contract yesterday, trading 18,887 contracts. The record was set on the same day as the Federal Open Market Committee (FOMC) meeting, at which the target Federal Funds interest rate is determined for the cash market. The former daily volume record of 17,366 contracts was set on November 16, 1999, the same day another FOMC meeting was held. The CBOT financial markets provide premier risk management opportunities during key financial reports and meetings.