CBOT Sets Another New Open Interest Record

The Chicago Board of Trade (CBOT®) announced that the exchange set another all-new total exchange open interest record yesterday. The new record at 9,203,130 contracts surpasses the previous highs at 8,942,645 set on July 21, 2003, and 8,838,291 on July 17, 2003.

Open Interest represents the number of positions that have not yet been offset and closed out at the end of a trading day. It can be considered to be a measure of the use of particular futures or options on futures contract as a hedging tool. The industry also considers it to be a barometer of a contract's liquidity and the ability to get in and out of the market and put on positions of size without moving the market.