CBOT® Executive Vice President Bernard W. Dan said, "With about $400 billion in Treasury bonds outstanding--together with highly volatile and uncertain conditions in financial markets generally--our recent increase in Treasury volume numbers show that investor demand continues strong for the deep, liquid, and highly transparent Treasury markets found at the CBOT®."
In the two weeks following the Treasury announcement, bond futures and options average daily volume increased by 27%, in the open outcry and electronic platform markets. Similarly, open interest in these contracts grew by 13% after the Treasury announcement.
Providing flexibility in its trading platforms, the CBOT® offers a full range of Treasury products, spanning the maturity spectrum from two to thirty years. The entire Treasury complex performed remarkably well during the period after the Treasury's announcement. Average daily volume in the Treasury complex increased by more than 16% and open interest in the Treasury complex increased more than 13%.
As further evidence of the strength of CBOT® markets, exchange members set a new daily volume record on Thursday, November 15, on the CBOT®'s electronic trading platform with 513,880 contracts traded, breaking the previous high of 462,140 contracts set October 31, 2001. The CBOT® traded a total of 1,848,223 contracts on November 15, of which 1,334,343 were traded in the open outcry marketplace.
Exchange membership prices also have rebounded to pre-announcement levels, further underscoring the active demand for Treasury securities and other CBOT® contracts. The most recent Full membership seat sold for $340,000 on November 14, and the most recent Associate membership seat sold for $100,000 on November 16, 2001.
For more information on the products traded at the CBOT®, please log onto http://www.cbot.com/financial.
