CBOT® Interim President & CEO Dennis A. Dutterer said, "This is a historic day for the Chicago Board of Trade. I truly believe this alliance and our successful launch signifies the coming together of markets, not simply a sharing of technology or products, and we look forward to continued, steady volume growth and increased customer participation in the coming weeks and months. I want to compliment the staff members of CBOT® and Eurex who worked intensely for months to present this premier trading system to our members and customers. As a result, this alliance between the two foremost exchanges in the world will serve as the industry’s business and technology guidepost."
Eurex CEO Joerg Franke said, "We have taken a further step in developing markets. Combining Eurex’s technology competence and its unique network with CBOT®’s attractive products, a/c/e is the answer to the consolidation trend in our industry that is driven by globalization, deregulation and technology: We provide global access to a wide range of benchmark products at lowest costs, thus serving the needs of our customers. " At the launch, 84 CBOT® members are able to trade all CBOT® products on the a/c/e platform. They access the system through a wide-area communication network (WAN) from currently 107 locations worldwide. The second phase of the alliance, scheduled to launch in fourth quarter 2000, will include an additional 60-80 firms who are currently in the process of signing on to the new system.
a/c/e is a joint venture company co-owned and staffed by the world’s two leading derivatives exchanges, and provides the new platform for electronic trading at the CBOT®. The proven Eurex technology and its existing global distribution network will be the gateway to CBOT® and Eurex products for global market users, providing exchange members of both exchanges with access to the world’s premier exchange-traded derivatives through a single trading screen.
As planned, CBOT®’s former electronic trading system, Project A®, was decommissioned at 7:20 a.m., Friday, August 25, 2000.
Regular trading hours for CBOT® products on the a/c/e platform (Sunday-Friday, Chicago Time):
Financials: 10:00 p.m.-4:00 p.m.
Agricultural: 10:10 p.m.-6:00 a.m.
Stock Indices & Metals: 10:20 p.m.-4:00 p.m.
CBOT® open outcry hours will remain unchanged.
