Rand Financial Services, Inc. announced that it has been approved as a Class A Member and a Clearing Member of the Kansas City Board of Trade (KCBT). Effective immediately, Rand is able to clear customers that trade on the KCBT. This comes as the KCBT experienced an exchange monthly volume record in June. A total of 566,272 contracts were traded at the exchange during June, topping the previous monthly record for the exchange, set in February 2006, by 3.4 percent.
Michael Manning, Rand CEO, said, "Rand has a considerable agricultural business and becoming a clearing member of the KCBT enhances our ability to provide access to markets of most interest to our clients. With the recent, impressive growth in volume and the expansion of electronic trading, clearing membership on KCBT makes good sense."
“The KCBT is proud to welcome Rand Financial Services as our newest member firm and clearing member," said Jeff Borchardt, KCBT president and chief executive officer. "Our recurrent wheat futures and options trading records underscore KCBT’s position as the world’s benchmark price for bread wheat. We are delighted that Rand Financial Services made the decision to invest in our continuing success."
About Rand: Rand Financial Services, Inc. executes and clears futures and options on futures trades on behalf of the world’s premier banks, institutional clients, hedge funds, CTAs and non-clearing FCMs, as well as high net-worth individuals. Founded in 1993 as a wholly owned subsidiary of the Bermuda-based Tewksbury Investment Fund Ltd., Rand is a member of all major futures exchanges with its principal office located in Chicago. Recognized as one of the premier firms in the futures industry, Rand endeavors to build strategic relationships with its clients to ensure long-term investment growth, providing services ranging from clearing to trade execution to facilities management.
About KCBT: 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.
