CBOT's July Volume Sets Highest Monthly Total At 45,018,548

The Chicago Board of Trade (CBOT®) today announced its highest monthly volume total ever at 45,018,548 contracts for July 2003, up 35.4% from July 2002, up 9.3% from June 2003 and up 37.3% year-to-date (YTD). A new exchange daily volume record was set on July 31 with 3,331,999 contracts traded surpassing the old record of 3,286,987 set May 28, 2003. In addition, six of the top ten monthly volume records were shattered in 2003.

CBOT President & CEO Bernard Dan said, "This incredible record volume of trade the CBOT is experiencing in 2003 underscores that when the U.S. interest rate environment is uncertain, the marketplace is drawn to the liquidity, flexibility, and integrity that CBOT markets provide to effectively manage risk."

July Highlights Included:

July average daily volume was 2,046,298, up 35.4% from July 2002 and up 37.3% YTD
Total exchange month-end open interest was 9,060,716, up 26.8% from July 2002 and up 12.8% from June 2003; and set a daily open interest record of 9,237,852 on July 22, 2003
Four of the top ten daily exchange volume records were set in July 2003
10-Year Treasury Note futures (open auction) set a daily open interest record on July 31 at 1,057,959
Ten-Year Treasury Note options (open auction) set daily volume record on July 29 at 417,606, set a daily open interest record on July 24 at 2,121,583, and set a monthly volume record of 5,101,279
Soybean Oil futures (open auction) set a monthly volume record of 759,734

Financial Futures and Options Highlights

U.S. Treasury Bond futures were up 7.7% from June 2003 and up 23.2% from July 2002 at 6,352,053
U.S. Treasury Bond options were up 14.0% from June 2003 and up 14.6% from July 2002 at 1,815,986
Ten-Year Treasury Note futures were up 25.8% from June 2003 and up 70.2% from July 2002 at 15,285,002
Ten-Year Treasury Note options were up 44.7% from June 2003 and up 69.4% from July 2002 at 5,069,975
Five-Year Treasury note futures were up 45.6% from July 2002 at 6,462,614
Two-Year Treasury Note futures were up 54.9% from July 2002 at 274,095
Thirty-Day Fed Fund futures were up 63.1% from July 2002 at 853,826

Agricultural Futures and Options Highlights

Soybean Meal futures were up 3.0% from June 2003 at 772,104
Soybean Oil futures were up 2.8% from June 2003 and up 8.6% from July 2002 at 761,460
Rough Rice futures were up 7.8% from July 2002 at 15,188

Stock Index Futures and Options

CBOT mini-sized DowSM futures reached 1,090,997 for July, up 7.7% from June 2003 and up 505.6% from July 2002
CBOT DJIASM futures volume totalled 368,277 for July 2003
CBOT DJIA options totalled 15,113

CBOT Electronic Trading System

Volume reached 24,907,321 for July 2003, up 85.0% from July 2002, up 22.9% from June 2003, and up 103.3% YTD at 130,194,687
July average daily volume was 1,132,151, up 85.0% from July 2002

CBOT Seat Sales

CBOT Full Membership last traded at $380,000 on July 31, 2003
CBOT Associate Membership last traded at $168,000 on July 24, 2003
CBOT Commodity Options membership at $32,500 on July 31, 2002
CBOT IDEM membership at $28,000 on July 30, 2003