The Chicago Board of Trade (CBOT®) today announced that overall exchange volume set a new quarterly record. For the quarter ended June 30, 2004, volume reached an all-time high of 158,509,267 contracts, up 37.1 percent from the same quarter last year and up 16.1 percent from last quarter. In addition, volume in June was up 20.7 percent from June 2003 at 49,738,302 contracts and up 40.0 percent year-to-date (YTD) at 295,082,458 contracts.
CBOT President and CEO Bernard Dan said, "The exchange's efforts to expand worldwide access to CBOT products, offer cutting-edge technology, and provide premier customer service are crucial initiatives that have fostered growth. The significant increases in volume throughout our product groups during the quarter are a strong signal of the confidence our customers have in our transparent markets. Whether trading CBOT U.S. Treasury, equity, or commodity products, our customers depend upon the liquidity and market integrity that define the exchange."
The exchange saw average daily volume in June rise 15.3 percent to 2,260,832 contracts from June 2003 levels. Total exchange open interest at the end of June rose 30.4 percent from last year to 10,477,049 contracts.
The CBOT's agricultural markets experienced significant gains in volume and open interest in June. Daily open interest records were set in CBOT Corn options and Mini-Sized Silver futures in June.
The exchange's U.S. interest rate markets continued to see notable trading activity in June, with an all-time high seen in daily and monthly volume in Five-Year Interest Rate Swap futures. Further, daily open interest records were set in 30-Day Fed Fund futures and options, and Five-Year Treasury Note options.
Year-to-date, 4,336,043 futures and options orders, excluding futures spreads, were electronically sent directly to floor brokers using Electronic Clerks, order receipt devices, compared to 3,199,414 orders during the same period in 2003. In addition, a record 81 percent of total Agricultural futures orders were filled electronically in June compared to 69 percent in 2003.
Quarterly Highlights
Agricultural futures and options were up 30.6 percent from the second quarter of 2003 and 5.8 percent from the first quarter of 2004 at 24,611,757 contracts.
Financial futures and options were up 37.9 percent from the same quarter last year and 18.8 percent from the previous quarter this year at 127,792,639 contracts.
Equity Index futures and options were up 46.5 percent from the same quarter last year and 6.2 percent from the previous quarter at 5,949,610 contracts.
Metal futures were up 460.1 percent from the same period last year and 6.1 percent from the previous quarter at 145,107 contracts.
Financial Futures and Options
Financial futures and options complex trade was up 21.2 percent from June 2003 at 39,727,858 contracts and 38.3 percent YTD to 235,339,327 contracts.
U.S. Treasury Bond futures rose 16.5 percent YTD to 35,479,994 contracts.
Ten-Year Treasury Note futures rose 25.0 percent from June 2003 to 15,184,221 contracts and 42.2 percent YTD to 94,610,307 contracts.
Five-Year Treasury Note futures rose 53.4 percent from June 2003 to 9,458,168 contracts and 48.3 percent YTD to 49,252,027 contracts.
Two-Year Treasury Note futures rose 132.6 percent from June 2003 to 788,845 contracts and 111.8 percent YTD to 3,893,701 contracts.
Thirty-Day Fed Fund futures rose 16.9 percent from May to 1,503,199 contracts and 7.2 percent YTD to 5,425,890 contracts.
U.S. Treasury Bond options rose 10.7 percent YTD to 8,059,048 contracts.
Ten-Year Treasury Note options rose 11.5 percent from June 2003 to 3,904,523 contracts and 46.5 percent YTD to 27,562,837 contracts.
Five-Year Treasury Note options rose 105.5 percent from June 2003 to 1,830,041 contracts and 71.3 percent YTD to 8,628,114 contracts.
Thirty-Day Fed Fund options rose 49.0 percent YTD to 1,778,348 contracts.
Agricultural Futures and Options
Agricultural futures and options complex trade was up 19.7 percent from June 2003 and 14.8 percent from May at 8,232,090 contracts. Volume rose 44.3 percent YTD to 47,883,013 contracts.
Wheat futures rose 18.8 percent from June 2003 and 29.8 percent from May to 786,542 contracts. Volume rose 38.4 percent YTD to 4,390,477 contracts.
Corn futures rose 30.1 percent from June 2003 and 36.8 percent from May to 2,538,607 contracts. Volume rose 51.2 percent YTD to 13,848,485 contracts.
Oat futures rose 46.6 percent from June 2003 to 35,356 contracts and 58.3 percent YTD to 247,617 contracts.
Soybean futures rose 29.5 percent YTD to 10,577,575 contracts.
Soybean Meal futures rose 9.6 percent from June 2003 and 3.2 percent from May to 821,580 contracts. Volume rose 22.7 percent YTD to 4,593,411 contracts.
Soybean Oil futures rose 17.5 percent YTD to 4,014,273 contracts.
Mini Soybeans futures rose 22.7 percent from June 2003, 7.3 percent from May to 27,505 contracts. Volume rose 183.5 percent YTD to 201,789 contracts.
Wheat options rose 6.0 percent YTD to 838,484 contracts.
Corn options rose 125.2 percent from June 2003 and 17.1 percent from May to 839,049 contracts. Volume rose 141.6 percent YTD to 4,384,415 contracts.
Soybean options rose 56.7 percent from June 2003 and 2.1 percent from May to 579,624 contracts. Volume rose 73.1 percent YTD to 3,426,657 contracts.
Soybean Meal options rose 155.9 percent from June 2003 and 14.4 percent from May to 100,784 contracts. Volume rose 159.6 percent YTD to 566,603 contracts.
Soybean Oil options rose 183.1 percent from June 2003 to 91,439 contracts and 118.5 percent YTD to 582,993 contracts.
Metal Futures
Metals futures rose 308.6 percent from June 2003 and 14.2 percent from May to 43,466 contracts. Volume rose 521.1 percent YTD to 281,893 contracts.
Mini-Sized Silver futures rose 869.6 percent from June 2003 and 57.3 percent from May 2004 to 16,386 contracts. Volume rose 1,069.9 percent YTD to 92,179 contracts.
Mini-Sized Gold futures rose 202.7 percent from June 2003 to 27,080 contracts and 405.8 percent YTD to 189,714 contracts.
Equity Futures and Options
DJIASM futures and options complex trade was up 15.1 percent from last year at 1,733,022 contracts and 56.6 percent YTD at 11,552,080 contracts.
DJIA futures rose 18.4 percent from May to 246,564 contracts.
Mini ($5) DowSM futures rose 44.0 percent from June 2003 to 1,458,605 contracts and 116.9 percent YTD to 9,854,256 contracts.
DJIA options rose 54.7 percent YTD to 130,103 contracts.
Seat Sales
CBOT Full Membership last traded at a record high of $950,000 on June 30, 2004.
CBOT Associate Membership last traded at $400,000 on June 30, 2004.
CBOT COM Membership last traded at $87,000 on June 30, 2004.
CBOT IDEM Membership last traded at $44,000 on June 16, 2004.
For more information on CBOT volume figures, please visit the exchange's Website at www.cbot.com.
