The former daily volume record of 59,103 contracts was set on June 27, 2001.
The CBOT® Fed Funds futures contract provides the ideal risk management tool for market users who want to hedge their overnight and term financing risk, especially in advance of key financial reports and meetings that affect the nation's economy.
Since its introduction in October 1988, the CBOT® Fed Funds futures contract has increasingly become an invaluable hedging and price discovery vehicle for financial institutions with short-term interest rate risk. Because the contract is based on the overnight Fed Funds effective rate, market participants can use the CBOT® contract to manage the price risk associated with virtually any short-term interest rate cash instrument.
For more information on CBOT® products, visit our website at www.cbot.com.
