CBOT President and CEO Bernard W. Dan said, “The volume totals we witnessed in open auction as well as on the screen during the first day of side-by-side trading reflects the market’s support for our initiative to create additional trading opportunities. The strong volume in the Ag futures complex is also indicative of our market participants leveraging the trading expertise found in our open auction markets.”
CBOT Chief Operating Officer Bryan T. Durkin said, “We are also pleased to report that operations ran very smoothly yesterday, which is a testament to the collaborative work and effort of our own project teams and member task forces to make the implementation seamless. As part of our strategy, we focused on putting tools in place that complement the flow of business on the CBOT’s existing open auction trading environment and also encouraged participation on the screen. Having these tools in place enabled our market participants to do what they do best – create deep, liquid markets.”
The CBOT expanded the electronic trading hours of its Agricultural futures contracts to provide greater access to the CBOT’s benchmark Agricultural markets and increase trading opportunities for new and existing CBOT customers worldwide. Previously, CBOT’s Agricultural futures contracts traded electronically after hours, which enabled the Exchange to expand the distribution of its Agricultural products globally, particularly in Asia and Europe.
The electronic trading hours for the CBOT’s Agricultural futures complex, which includes Corn, Wheat, Soybean, Soybean Oil, Soybean Meal, Rough Rice, Oat and South American Soybean contracts are during daytime trading from 9:30 a.m. to 1:15 p.m. (Chicago Time) and resume from 6:30 p.m. to 6:00 a.m.
Aside from differing ticker symbols, the contract specifications for the electronically-traded Agricultural products are the same as those traded on the open auction platform. The contracts are fully fungible regardless of trading platform. To learn more about this initiative, please visit the Exchange’s website, www.cbot.com.
About the CBOT
As one of the leading global derivative exchanges, the Chicago Board of Trade provides a diverse mix of financial, equity and commodity futures and options-on-futures products. Building on its 158-year history, the CBOT continues to advance into the future using the strength of deep liquidity, market integrity and member-trader expertise. Using superior trading technology in both electronic and open-auction trading platforms, the CBOT provides premier customer service to risk managers and investors worldwide.
