Year-to-date (YTD) volume through November was up 32.1 percent to 553,850,507 contracts from January through November last year. Average daily volume in November increased 42.9 percent to 2,831,786 contracts from November 2003 levels.
CBOT President and CEO Bernard Dan said, “Numerous volume and open interest records were achieved at the CBOT in November, from an exchange-wide daily volume record to an all-time high in daily turnover in CBOT U.S. Treasuries, contributing to the exchange’s outstanding performance. These impressive and continuous gains in trading activity represent a tremendous vote of confidence in the CBOT’s market model, which focuses on providing open price discovery, deep liquidity and full transparency. Our customers clearly value the advantages provided by the CBOT’s premier electronic trading platform and our innovative clearing system.”
Daily CBOT volume surpassed 5.7 million contracts for the first time on November 29. Exchange-wide daily volume rose to 5,718,527 contracts, the highest ever, and several daily records were achieved that day. Electronic trading volume reached a new high at 3,542,925 contracts. Trading in the CBOT’s Treasury complex continued its record-setting performance, with a new daily volume record of 4,426,987 contracts. New daily records were set in Ten-Year U.S. Treasury Note futures, Five-Year U.S. Treasury Note futures and Two-Year U.S. Treasury Note futures.
Total exchange open interest at the end of November rose 41.2 percent to 10,479,482 contracts from last year. In addition, the CBOT set a daily exchange-wide open interest record of 13,468,929 contracts on November 24. That same day, open interest in Ten-Year U.S. Treasury Note options rose to a record 3,276,659 contracts. Further, on November 29, open interest in Ten-Year U.S. Treasury Note futures rose to a record 1,832,344 contracts, and open interest in Five-Year U.S. Treasury Note futures rose to a record 1,514,978 contracts. On November 30, open interest in Two-Year U.S. Treasury Note futures rose to a high of 252,168 contracts.
The exchange’s Agricultural markets also performed strongly in November. Volume in Wheat futures rose to a new record of 913,669 contracts for the month. Open interest in Wheat futures increased to a record of 183,725 contracts on November 24, while open interest in Corn options rose to a record 838,771 contracts on November 19.
The CBOT’s 100 percent electronically traded Precious Metals complex, which is composed of mini-sized and full-sized Gold and Silver futures contracts, continued to perform strongly in November. Volume in CBOT full-sized Gold futures, which were launched with full-sized Silver futures on October 6, rose to 39,040 contracts in November. Open interest in CBOT full-sized Gold futures rose to a high of 2,660 contracts on November 23.
Year-to-date through November, 7,385,691 futures and options orders, excluding futures spreads, were electronically sent directly to floor brokers using Electronic Clerks, or order receipt devices. That represents an increase of 12 percent from the 6,573,558 orders electronically sent in the same period in 2003. In addition, from January through November, 83 percent of total Agricultural futures orders were filled electronically, compared to 75 percent in 2003.
Financial Futures and Options
- Financial futures and options complex trade was up 67.8 percent from last year and 26 percent from October at 49,911,971 contracts. Volume was up 33.5 percent YTD at 451,150,873 contracts.
- Ten-Year Treasury Note futures set a monthly volume record at 21,006,372 contracts.
- Five-Year Treasury Note futures set a monthly volume record at 11,036,927 contracts.
- Two-Year Treasury Note futures set a monthly volume record at 1,393,333 contracts.
- U.S. Treasury Bond futures rose 52.9 percent from last year and 30.3 percent from October to 7,374,223 contracts. Volume rose 14.2 percent YTD to 67,035,076 contracts.
- Ten-Year Treasury Note futures rose 68.4 percent from last year and 26.4 percent from October to 21,006,372 contracts. Volume rose 33.3 percent YTD to 181,080,207 contracts.
- Five-Year Treasury Note futures rose 60.3 percent from last year and 43.6 percent from October to 11,036,927 contracts. Volume rose 42.4 percent YTD to 96,052,638 contracts.
- Two-Year Treasury Note futures rose 180.5 percent from last year and 105.5 percent from October to 1,393,333 contracts. Volume rose 113.8 percent YTD to 8,396,271 contracts.
- Thirty-Day Fed Fund futures rose 168.9 percent from last month to 962,849 contracts and 43.8 percent YTD to 11,159,912 contracts.
- Ten-Year Treasury Note options rose 92.3 percent from last year to 5,152,951 contracts and 38 percent YTD to 52,646,945 contracts.
- Five-Year Treasury Note options rose 64.8 percent from last year to 1,378,156 contracts and 79.2 percent YTD to 16,207,762 contracts.
- Thirty-Day Fed Fund options rose 715.3 percent from last year to 473,730 contracts and 195.6 percent YTD to 4,397,406 contracts.
Agricultural Futures and Options
- Agricultural futures and options complex trade was up 8.5 percent from last year and 24.7 percent from October at 7,333,419 contracts. Volume rose 19.5 percent YTD to 79,997,821 contracts.
- Wheat futures rose 22 percent from last year and 90.9 percent from October to 913,669 contracts. Volume rose 16 percent YTD to 7,552,869 contracts.
- Corn futures rose 33 percent from last year and 67.5 percent from October to 2,473,306 contracts. Volume rose 28.5 percent YTD to 22,868,617 contracts.
- Soybean futures rose 8.1 percent YTD to 17,319,912 contracts.
- Mini soybean futures rose 53.2 percent YTD to 331,313 contracts.
- Soybean meal futures rose 25.7 percent from October to 703,500 contracts.
- Soybean oil futures rose 18.3 percent from October to 654,338 contracts.
- Corn options rose 8.5 percent from last year to 440,596 contracts and 73.9 percent YTD to 7,327,525 contracts.
- Soybean options rose 9.3 percent from last year to 444,325 contracts and 29.1 percent YTD to 5,727,277 contracts.
- Soybean meal options rose 15.6 percent from last year to 64,485 contracts and 93.1 percent YTD to 938,940 contracts.
- Soybean oil options rose 16.5 percent from October to 54,236 contracts and 52 percent YTD to 915,180 contracts.
Precious Metal Futures
- Precious Metals futures trade rose 301.1 percent from last year and 46.1 percent from October to 124,385 contracts. Volume rose 311 percent YTD to 635,652 contracts.
- Mini Silver futures rose 314.7 percent from last year and 18 percent from last month to 24,634 contracts. Volume rose 504.8 percent YTD to 185,100 contracts.
- Mini Gold futures rose 124.1 percent from last year and 30.8 percent from October to 56,180 contracts. Volume rose 210.9 percent YTD to 385,685 contracts.
- Full-sized Silver futures rose 71.6 percent from October to 4,531 contracts.
- Full-sized Gold futures rose 109.3 percent from October to 39,040 contracts.
Equity Complex Futures and Options
- DJIA futures and options complex trade was up 89.6 percent from last year at 2,097,321 contracts and 54.7 percent YTD at 22,027,617 contracts.
- Mini ($5) Dow futures rose 99.2 percent from last year to 1,824,371 contracts and 92.4 percent YTD 18,985,802 contracts.
- Mini ($5) Dow options rose 92 percent to 106,371 contracts since their launch in February 2004.
- DJIA options rose 52.5 percent from October to 14,167 contracts.
Seat Sales
- CBOT Full Membership last traded at $1,260,000 on November 22, 2004.
- CBOT Associate Membership last traded at $505,000 on November 29, 2004.
- CBOT COM membership last traded at $132,000 on November 30, 2004.
- CBOT IDEM Membership last traded at $60,500 on November 12, 2004.
For more information on CBOT volume figures, please visit the Market Data area of the Exchange’s Website.
