Also found in: Acronyms.
Kansas City Board of Trade
A derivatives exchange based in Kansas City on which commodities, futures, and options are traded. Primarily, the exchange trades derivatives related to hard red winter wheat, which is a primary ingredient in bread and an important agricultural product in the area. Additionally, in 1982, the KCBT became the first exchange to offer an index futures on a stock exchange when it introduced Value Line futures. It was established in 1856 and is regulated by the CFTC.