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Chicago Board of Trade (CBOT)

The second largest futures exchange in the US, and a pioneer in the development of financial futures and options.

Chicago Board of Trade

Established in 1848, it was the oldest options and futures exchange in the world when it ceased operations in 2007 after being acquired by and merged into the Chicago Mercantile Exchange.


References in periodicals archive ?
2011) analyzed liquidity levels in the soybeans, wheat and corn futures markets at CBOT, while Shah and Brorsen (2011) evaluated the wheat futures market at the Kansas City Board of Trade before and after the introduction of electronic trading platforms.
Wheat prices also rose with CBOT September up 17-1/2 cents or 2.
agricultural data--including weekly crop progress reports issued on Monday afternoon, weekly export sales numbers on Thursday morning, and monthly supply-demand reports--have been released outside of current CBOT trading hours.
When Sprecher made the first run at CBOT, I m not sure he meant to do anything but make it more expensive for CME," said John Damgard, FIA president.
The Chicago Merc's trailblazing decision to go public in 2002 gave it a competitive edge over the CBOT, putting it in position to offer its $8 billion buyout.
The benefits of exchange-cleared OTC trades include daily mark to market, which allows customers to better manage their capital costs, and elimination of counterparty risk, CBOT said.
Faced with this threat to its monopoly positions, CBOT announced that it was implementing new pricing and dividend policies that increased membership availability for certain firms, increased dividend payments to members and cut prices for all classes of brokers using the exchange services.
More importantly, any lack of network reliability could erode confidence in an electronic order-entry and matching system--"Project A"--which provides global access to CBOT products via its 555 workstations installed in over 200 firms worldwide.
After restructuring the index used to calculate option values and adding new regional contracts, the CBOT hopes its options can provide carriers with access to the capital markets and additional catastrophe capacity that complements traditional reinsurance.
Secondary materials such as glass, PET and HDPE plastics, and paper now have their own market on the CBOT, which for 148 years has been one of the world's foremost trading systems for a wide range of commodities, from pork bellies to silver.
But at a press conference launching the exchange, CBOT chairman Patrick H.
FP: Could you give us a brief history of the CBOT and its purpose?