A salient feature of the new site will be real-time quotes on all CBOT products, which the exchange expects to be a boon for the growing number of individual investors using the site. With this move, the CBOT becomes the first futures exchange to offer it's real-time data direct to users. And, for the value-added service, the CBOT will charge users a nominal monthly subscription fee of $10.00, offering a substantial saving over the alternative providers. As an added bonus, for a limited time, first-time subscribers will enjoy the service free of charge.
Thomas Cargie, Vice President of the CBOT's Market Data Service Department, said, "In 1995, the CBOT became the first exchange in the world to offer a menu of electronic market data and services to investors via the Internet. Since that time, e-commerce has exploded and has enabled us to use the web as a new channel for offering real-time quotes directly to market users at an affordable price. We effectively expand access to our markets while crating a new revenue source."
CBOT Executive Vice President of Business Development Patrick Catania, who led the site's redeployment efforts, remarked, "The CBOT demonstrated its innovation and leadership position on the Internet in its first foray online. Over the years, we have learned much about our customer's needs through their use of our web site, and have responded with the current enhancements to the site, as well as planned future offerings."
To engineer the new site, and as part of its move toward expanding e-business initiatives, the CBOT recently completed the installation of e-commerce platform giant Vignette Story Server. Vignette, a leader in the e-commerce marketplace, provides the engines of megasites that include chicagotribune.com, citibank.com, nokia.com, and cbs.com. Jim Amaral, CBOT Senior Vice President and Chief Information Officer noted, "The CBOT is poised to embrace the challenges of e-commerce, and Vignette is a key component of our infrastructure going forward."
The Chicago Board of Trade web site was first launched in August 1995. Today the site welcomes more than 80,000 users daily from over 40 countries worldwide.
