Fed Funds Contract Sets Daily Volume Record at 14,699 Contracts

Trade in the Chicago Board of Trade's Fed Funds futures soared to a record 14,699 contracts on June 30, 1999, breaking the former high of 13,501 set on July 2, 1996. The Fed Funds contract was launched on October 3, 1988, and the new daily volume record is testimony to the superior performance and quality of the CBOT markets, the most liquid and efficient in the world.