2-year US Treasury News June 1, 2004 - CBOT® 2-Year US Treasury Futures Traded More Than 490,000 Contracts Last Week

During the holiday shortened week of May 24th, the CBOT 2-year traded more than 490,000 contracts. In addition, it had three of its busiest trading sessions in its history. On Wednesday, May 26th CBOT 2-years traded a record 155,153 contracts followed by 140,105 contracts on Thursday, May 27th and its fifth highest volume of 101,997 contracts on Tuesday, May 25th.

2-year celebrates First Anniversary of the Electronic Market Maker Program

On May 1, 2003, the Chicago Board of Trade launched its Electronic Market Maker Program in its 2 Year US Treasury note futures. During the course of the next twelve months the contract grew significantly in terms of both volume and open interest. The table below summarizes its success:

	Open Interest	Percent Change	Average Daily Volume-Total	Percent Change	Average Daily Volume-Electronic	Percent Change
April 30 2003	109,678		7,301		1,485
April 30 2004	182,005	Up 65.9%	22,018	Up 201.6%	15,436	Up 939%

This growth trend marched along in May with total average daily volume exceeding 43,000 contracts and average daily open interest of approximately 199,000 contracts. Average daily electronic volume accounted for 58% of trading volume in May, or 25,469 contracts per session.