The Chicago Board of Trade (CBOT) today announced that the CBOT's Fed Funds options contract, launched March 14, 2003, is the fastest growing options contract in the history of the CBOT with total volume since inception at 61,999, surpassing the CBOT's U.S. Treasury Bond options contract, which traded 43,059 in the weeks following its launch on October 1, 1982. Open interest in the Fed Funds options contract reached 47,639 on March 31, 2003.
Additionally, Fed Funds options set a daily volume record of 17,152 contracts traded on March 31, surpassing the former record of 15,295 contracts traded on March 18, 2003.
CBOT Chairman Charles Carey said, "I am very pleased that customers are finding the Fed Funds options contract a useful tool for hedging their risk associated with short term interest rates. The CBOT is proud to offer hedging tools across the interest rate spectrum."
