The CBOT set several records in the month of January. A daily exchange open interest record was set on January 30, 2004 at 9,660,028 contracts traded, breaking the record of 9,543,591 contracts set the previous day. In addition, Ten-Year Treasury Note options set a daily volume record on January 9, at 435,107 contracts.
Total exchange month-end open interest was 9,660,028, up 44.0 percent from January 2003 and up 33.0 percent from December 2003.
Chairman Charles P. Carey said, "In the first month of 2004, the CBOT saw tremendous results from the implementation of the Common Clearing Link and the migration to a new electronic trading platform. Already, the exchange has had two top-ten volume days on the new electronic trading platform. Our overall impressive volume statistics, as well as the exchange's all-time open interest record set in January, clearly demonstrate that CBOT customers value the exchange's transparent, liquid markets and superior clearing system and technology."
Agricultural Futures and Options
Wheat futures were up 50.0 percent from January 2003, trading 656,879 contracts and were up 38.3 percent from December 2003. Corn futures were up 68.3 percent form January 2003 and up 36.6 percent from December 2003 at 2,025,714 contracts traded. The CBOT Soybean contract was up 19.1 percent from December 2003 at 1,509,700 contracts.
The CBOT posted daily open interest records in the following agricultural products (open auction): Soybean Meal futures set a daily open interest record on January 23, 2004 of 191,709; Soybean Oil futures set a daily open interest record on January 27, 2004 at 204,404; and Corn futures set a daily open interest record on January 30, 2004 at 630,622 contracts.
Financial Futures and Options Volume
Underpinning the CBOT's gains for the month was the solid performance of its financial futures and options complex, with January trading volume for the entire financial product line at 32,622,798, up 45.3 percent from January 2003, and up 16.9 percent from last month.
Additionally, Ten-Year Treasury Note futures were up 49.2 percent from January 2003 and up 24.7 percent from December 2003 at 13,608,450; Five-Year Treasury Note futures were up 32.0 percent from January 2003 at 5,856,914; and Two-Year Treasury Note futures were up 111.4 percent from January 2003 at 310,401 contracts.
Equity Complex Volume Increases in January
CBOT's DJIASM Index complex trade was up 68.3 percent from January 2003 and up 27.2 percent from December 2003 at 1,665,597 contracts. CBOT DJIA futures contracts traded 224,713 contracts for January 2003, with mini ($5) Dow JonesSM Industrial Index futures up 164.0 percent from January 2003 and up 40.2 percent from December 2003 at 1,389,063 contracts. In addition, Dow Jones Industrial AverageSM options increased 384.4 percent from January 2003 at 51,821 contracts.
Other CBOT January Highlights
- The CBOT's electronic trading system volume reached 22,635,012 contracts, up 57.9 percent from January 2003.
- In January, 657,529 futures and options orders were electronically sent directly to floor brokers using Electronic Clerks, special order receipt devices.
- The most recent sales of CBOT seats were as follows: CBOT Full Membership at $450,000 on January 30, 2004; CBOT Associate Membership at $190,000 on January 26, 2004; CBOT Commodity Options membership at $45,500 on January 30, 2004; and CBOT IDEM membership at $20,000 on January 30, 2004.
