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The Kansas City Board of Trade yesterday set another membership sales record with a sale at $300,000, topping the previous record of $270,000 set on October 10 of this year.
Membership values at an exchange tend to fluctuate, often reflecting trading opportunities. Membership sales have been steadily rising, with the average sale price for 2005 at $152,000 and 2004 at $112,667.
This record comes at a time of record-high volume for the exchange. Annual wheat futures trading volume through the end of October was 4,178,611, already exceeding last year’s total record volume of 3,682,919 contracts. Total exchange annual volume through October was at 4,662,338 contracts, exceeding last year’s total record volume of 3,953,536 contracts. Two months remain to build on these records.
The KCBT is a for-profit corporation organized under the laws of Delaware. There are 192 Class "A" (equity) memberships or shares of stock in the exchange and 60 "B" (non-equity) or associate memberships.
The Kansas City Board of Trade, founded in 1856, is the world's largest futures market for hard red winter wheat. This year, the exchange is celebrating its 150-year anniversary.
