Kansas City Board Of Trade Membership Trades At Over $100,000

The Kansas City Board of Trade on Wednesday set an all-time record for the sale of a Class "A" or full membership (share) at $115,000, marking the first time that a sale was in excess of $100,000.

The new high of $115,000 easily eclipses the previous record of $95,000. Membership values at an exchange tend to fluctuate, often reflecting trading opportunities.

"We have seen a dramatic appreciation in our seat prices this year as people realize the tremendous value and return in owning KCBT shares," said Jeff Borchardt, KCBT president and chief executive officer. "The efficiency of our exchange operations and record trading volume, coupled with the upcoming electronic trading and clearing services initiatives, are also alluring from the perspective of growth potential."

Through October 19, 2004, wheat futures volume is running ahead of last year by 11.5 percent and exchange volume is ahead of last year by 1.3 percent.

The KCBT is a for-profit corporation organized under the laws of Delaware. There are 192 Class A memberships or shares of stock in the exchange and 60 "B" or associate memberships.

The Kansas City Board of Trade, chartered in 1876, is the world’s largest futures market for hard red winter wheat.