CBOT Second Quarter Net Income Rises 67 Percent

The Chicago Board of Trade (CBOT®) reported today that net income in the second quarter of 2004 rose 67 percent to $16.5 million from $9.9 million in the same period of 2003.

Exchange revenues also increased, rising 6 percent to $102.1 million from $95.9 million in 2003.

CBOT President and CEO Bernard Dan said, "Growth in trading volume, particularly in the CBOT's highly liquid and transparent U.S. Treasury complex, and a new stream of revenue from clearing fees have contributed to the CBOT's strong financial position. Particularly in today's highly competitive environment, the CBOT is proud that its longstanding commitment to transparency, the depth of its liquid markets, and its cutting-edge technology continue to deliver unparalleled value to customers and position the exchange as a leader in the futures industry."

Trading volume in the second quarter of this year was 158.5 million contracts, up 37 percent from 115.6 million contracts in the same period of 2003. CBOT's U.S. Treasury complex volume surged 39 percent in the second quarter of 2004 to 122.3 million contracts from 87.9 million contracts in the second quarter of 2003.

For more information about the CBOT's products and markets, please visit the exchange website at www.cbot.com.