CBOT® Starts New Year With Successful Transition To New Electronic Trading Platform, Common Clearing Link

At the Chicago Board of Trade, the "new year" really began at 7:00 p.m. (Chicago Time) on January 1, 2004, with the successful transition of the remaining 31 CBOT futures and options on futures contracts to the exchange's new electronic trading powered by LIFFE CONNECT® and the full implementation of the CME/CBOT Common Clearing Link. The first trade on the new platform occurred at 7:00:06 p.m. and was an eleven lot in the MAR 04 U.S. Treasury Bond contract.

Now that the CBOT's new electronic platform is completely operational, exchange members and customers will experience fully the increased speed, enhanced reliability and functionality this premier electronic trading system has to offer. And, with the CCL in place, customers from both exchange's markets will realize savings that have been estimated to be $1.4 billion in performance bond reductions and $100 million in capital reductions, along with another $1 million in savings from transaction and ancillary fees.