CBOT® member firms and their affiliate companies may now secure direct electronic access to CBOT® products through the a/c/e access point in Tokyo. Also, the CBOT® can facilitate the connection of member firms operating in Japan to the a/c/e platform via communications networks and hub access points in other locations around the world.
CBOT® Chairman David P. Brennan said, "The CBOT® continues to work to meet the new challenges of the electronic trading environment and, most important, the global needs of our members and customers. The CBOT® provides a liquid, well-regulated marketplace for a number of our global customers in Tokyo, making it a very important business center for the CBOT®. By having a/c/e terminals in Japan, we are providing these customers the increased access they want to our markets."
CBOT® Interim President and CEO Dennis A. Dutterer said, "Over the preceding months, we have worked very hard with and listened to the advice of our member firms. Our task was to clarify for our member firms the legal and regulatory situation in Japan regarding electronic access to CBOT® from Japan. We now have that clarification and we are pleased we can offer this access to our members and broaden the access to all of our products on the world's premier electronic trading system - a/c/e."
Responding to customer demand for more trading opportunities in the Asian time zone, last month the CBOT® expanded the trading hours for the a/c/e trading platform.
The operating hours on a/c/e are as follows: (Chicago Time)
Financial products 8:00 p.m. to 4:00 p.m.
Agricultural products 8:30 p.m. to 6:00 a.m.
Metals and DowSM 8:15 p.m. to 4:00 p.m.
The a/c/e platform, which is co-owned and managed by the world's two leading derivatives exchanges, CBOT® and Eurex, was launched on August 27, 2000. The proven Eurex technology and its existing global distribution network is the gateway to CBOT® and Eurex products for global market users, providing members of both exchanges with access to the world's premier exchange-traded derivatives through a single trading screen.
More than 5 million contracts have been traded on the system and average daily volume exceeds 100,000 contracts. Moreover, the a/c/e daily volume record of 183,985 set November 8 already has surpassed the daily record for contracts traded on Project A®, the CBOT®'s former electronic trading system, testifying to the effectiveness and growing market acceptance of the a/c/e system.
