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CBOT's October Volume Sets New Monthly And Yearly Records

Date 04/11/2002

The Chicago Board of Trade (CBOT) today announced its members set a new yearly volume record at 289,030,143 contracts through the end of October, surpassing the exchange's previous record of 281,189,436 contracts traded in 1998. October 2002 volume was the second-highest monthly volume total in exchange history trading 36,025,514 contracts, up 67.2% from October 2001 and up 19.5% from September 2002.

CBOT® Chairman Nickolas Neubauer said, "We are having our best year ever and our volume looks like it will break the 300 million barrier by the end of the year. This record is a tribute to our customers, members and member firms, and demonstrates that our hybrid strategy of providing the best open auction and electronic trading platforms is working. We also have been making progress adding additional technology to our open auction markets in order to reach our goal of having "point and click" functionality on both our open auction and electronic trading platforms."

October Highlights Included:

  • CBOT average daily volume: 1,566,327, up 67.2% from October 2001 and up 36.7% YTD at 1,369,811
  • Total exchange month-end open interest: 7,915,712, up 31.0%% from October 2001 and up 9.0% from September 2002
  • Ten-Year Treasury Note options set a daily volume record on October 17 at 380,650, set a daily open interest record on October 22 at 2,065,335, and set a monthly volume record of 4,036,043

Financial Futures and Options

  • U.S. Treasury Bond futures were up 14.5% from September 2002 and up 12.9% from October 2001 at 5,190,079
  • U.S. Treasury Bond options were up 14.5% from September 2002 and up 25.9% from October 2001 at 1,780,312
  • Ten-Year Treasury Note futures were up 31.3% from September 2002 and up 170.2% from October 2001 at 11,198,815, and up 73.3% YTD at 79,086,828
  • Ten-Year Treasury Note options were up 67.5% from September 2002 and up 126.8% from October 2001 at 4,092,364
  • Five-Year Treasury Note futures were up 99.0% from October 2001 at 5,026,728, and up 72.4% YTD at 42,045,690, and up 72.4% YTD at 42,045,690
  • Five-Year Treasury Note options were up 45.2% from October 2001 at 540,735
  • Two-Year Treasury Note futures were up 42.2% from October 2001 at 174,779, and up 34.1% YTD at 2,580,096
  • Thirty-Day Fed Fund futures were up 13.5% from September 2002 and up 86.6% from October 2001 at 673,397, and up 47.9% YTD at 5,312,806

Agricultural Futures and Options

  • Corn futures were up 24.5% from October 2001 at 1,523,286, and up 9.6% YTD at 15,450,490
  • Soybean futures were up 48.2% from September 2002 and up 9.6% from October 2001 at 1,486,092, and up 18.4% YTD at 10,341,558
  • Oat futures were up 37.0% from September 2002 at 32,847
  • Soybean Meal futures were up 5.6% from September 2002 and 613,701
  • Soybean Oil futures were up 3.9% from September 2002 at 549,942, and up 10.7% YTD at 5,483,084
  • Rough Rice futures were up 104.1% from September 2002 and up 71.6% from October 2001 at 25,343, and up 62.8% YTD at 159,016

Stock Index Futures and Options

  • CBOT DJIASM futures volume in October totaled 699,005, up 9.3% from September 2002 and up 34.2% from October 2001, and up 34.7% YTD at 5,640,601
  • CBOT DJIA options for October 2002 totaled 15,640, up 5.2% from September 2001
  • CBOT mini-sized DowSM futures volume totaled 472,354, up 72.8% from September with YTD volume of 1,508,828 contracts

Electronic Trading System

  • October 2002 volume reached 16,663,294 contracts, up 223.7% from October 2001 and up 36.4% from September 2002. Year-to-date volume was up 163.6% at 106,141,138
  • Average Daily Volume totaled 724,491, up 223.7% from October 2001 and up 18.6% from September 2002
  • Thirty-Year Treasury Bond futures set a monthly volume record of 3,560,733·
  • Five-Year Treasury Note futures set a monthly volume record of 3,725,640
  • Thirty-Day Fed Fund futures set a monthly record of 38,825
  • Thirty-Year Treasury Bond options set a monthly record of 29,913
  • Ten-Year Treasury Note options set a monthly volume record of 471,354

October 2002 Electronic Order Routing Statistics

  • Year-to-date 5,319,767 futures and options orders, excluding futures spreads, were electronically sent directly to floor brokers using order receipt devices.
  • The following highs were established during the month of October.
    • Option contracts entered hit a high of 110,255 on October 17, 2002
    • Option contracts filled set a new high of 97,528 on October 17, 2002
  • Monthly records were maintained for both Financial and Agricultural orders filled by brokers using order receipt devices (Electronic Clerk).
    Futures
    • Financial room- 39% (new high)
    • Agricultural room- 52%
    • Total (Agricultural and Financial)- 46%
    Options
    • Financial room- 15%
    • Agricultural room- 40% (new high)
    • Total (Agricultural and Financial)- 32%

Seat Sales
CBOT Full membership last traded at $300,000 as of October 28, 2002CBOT Associate membership last traded at $142,000 as of October 29, 2002
CBOT Commodity Options membership interest last traded at $25,500 as of October 29, 2002
CBOT IDEM membership interest last traded at $22,500 as of October 22, 2002

For more information on the CBOT's products and markets, log onto the exchange web site at www.cbot.com

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