“We are thrilled that the deep liquidity of Corn options, one of our key benchmark products, is attracting a wide cross section of market participants who are using the contract a risk management tool,” said Bernard W. Dan, CBOT President and CEO. “The solid performance and strong growth of our Corn complex, as well our Agriculture futures and options complex overall, coincides with the rapidly expanding global agricultural economy.”
Year-over-year contract volume through May 31, 2006, in CBOT Corn options has increased 45 percent over the same time last year. The CBOT Corn futures contract has also increase 47 percent during the same period.
In an effort to increase global access to its Agricultural products, the CBOT will begin trading its Corn, Wheat, Soybean, Soybean Oil, Soybean Meal, Rough Rice and Oat futures contracts on e-cbot®, the Exchange’s electronic trading platform, during open auction trading hours beginning August 1, 2006. The CBOT launched its South American Soybean and Ethanol futures contracts electronically during daytime hours in May.
Trading hours for the electronically traded CBOT Agricultural contracts will be from 6:30 p.m. to 6:00 a.m., and the new daytime hours will be from 9:30 a.m. to 1:15 p.m. (CT). The move is designed to attract new market users from around the world and to facilitate current customers’ direct access to the CBOT’s benchmark Agricultural products.
Global market participants rely on the CBOT’s Agricultural contracts as a pricing mechanism for underlying commodities. The complex includes contracts based on soybeans, soybean oil and meal, corn, wheat, oats and rough rice. Market users include agricultural producers, grain elevators, terminal markets, food processors, retail customers, and the investment community, such as hedge funds and index funds.
For more information on the CBOT and its products, please visit www.cbot.com.
About the CBOT
As one of the leading global derivative exchanges, the Chicago Board of Trade provides a diverse mix of financial, equity and commodity futures and options-on-futures products. Building on its 158-year history, the CBOT continues to advance into the future using the strength of deep liquidity, market integrity and member-trader expertise. Using superior trading technology in both electronic and open-auction trading platforms, the CBOT provides premier customer service to risk managers and investors worldwide. For more information, visit our website at www.cbot.com.
