Chicago Stock Exchange Exceeds Total 1999 Trade Volume In First Six Months Of 2000 - Second Quarter Trade Volume Up 125 Percent Over '99 - Second Quarter Share Volume Up 101 Percent Over '99 - Seat Prices Continue To Set Records

The Chicago Stock Exchange (CHX) exceeded its total 1999 trade volume in the first six months of 2000, propelled by a record June and second quarter in terms of trade and share volume. Total trade volume in June concluded at 5,096,324, up 142 percent over June 1999. Total share volume finished up 115 percent from the same period last year at 2,142,554,489.

For the quarter ended June 30, 2000, total CHX trade volume finished at 15,840,285, up 125 percent from the second quarter of 1999, while share volume reached 6,436,236,299, an increase of 101 percent. Year to date, total trade volume is 33,136,159 compared to 30,395,920 trades for all of 1999.

"Our strong second quarter performance has enabled us to exceed 1999 trade volume in just six months," said Bob Forney, CHX president and CEO. "We've achieved this growth by quickly responding to the needs of our customers, our members and the investing public."

Forney added, "We have also managed the expansion of floor membership and trading capacity in order to support our continued record-breaking growth."

Seat prices also rose dramatically throughout the quarter, establishing a new record of $340,000 on June 16. The last consummated sale of the quarter was $325,000, compared to $216,000 the same time last year.

The CHX also broke daily trade and share records during the quarter. On April 4, trade volume soared to 524,056, and share volume reached 176,686,928.

Activity in Nasdaq issues traded under the CHX's over-the-counter (OTC) program remained strong in the second quarter of 2000. Total OTC trade volume reached 8,602,376, up more than 566 percent from the second quarter of 1999, when trade volume totaled 1,292,504. Total share volume surged to 2,565,342,198, compared to 465,464,334 from the same period last year, a 451 percent increase. OTC volume in June reflected this trend, as trade volume ended up 484 percent at 2,794,813, and share volume finished at 873,566,662, an increase of 377 percent over last June.

Share volume for extended trading hours from 3:00 p.m. to 5:30 p.m. Central Time totaled 98,220,338 for the quarter and 40,523,267 for June.

The Chicago Stock Exchange was founded May 15, 1882 and is the second most active stock exchange in terms of share and trade volume. The CHX is also the fastest growing exchange providing the strongest force for competition to all U.S. markets. The CHX trades more than 4,500 NYSE, Amex, Nasdaq and CHX-exclusive issues, more than any other stock exchange in the world.