The cutting-edge system, which allows users to send orders directly to the NYBOT floor via the Internet or their own order routing system, provides faster order flow to the floor, more timely confirmation of trade executions, order tracking and audit trail capabilities.

"NYBOT strives to offer our customers state-of-the-art technology in order to make our form of Open Outcry more efficient," said Charles H. "Harry" Falk, NYBOT's President and CEO. "Our EOR system allows users to quickly send an order from anywhere in the world over the Internet to a clerk on our floor, who can then quickly send back fill information to the customer. Furthermore, users may even see an increase in order flow as a result of the EOR system, as more orders will be coming into a user’s booth, both from the Internet and the phone."

One of the most impressive features of the EOR system is that it can handle a wide range of complex orders, and can accommodate futures, options and sophisticated strategies - the only routing system with the capability.

Mike O'Connor of Iowa Grain Company, which uses the EOR system in all of NYBOT's soft markets, says: "NYBOT's EOR system cuts down on the amount of time involved with orders because they are routed and confirmed quicker. I also like that everything is recorded for reference, so nothing gets lost. The system is very convenient, as a customer can be at home on their PC and send the order directly to the trading floor."

New users who have recently expanded or added use of the system include: R.J. O'Brien, which is using EOR in NYBOT's cotton pits; Cargill Investor Services, which is now using the system in the FCOJ pits, and the Rosenthal Collins Group, which has just signed-up to use the system for its FCOJ orders.

"I use the Automated Trading Card part of EOR and find that it makes my life easier and less complicated," says Jeanette "Gert" Young, a trader on NYBOT's FINEX Exchange. "I have far fewer problems with matches and allocations than do the guys who are using the traditional method. All in all, the system brings the trading floor into the technologically-friendly era."

The EOR system compliments NYBOT’s Automated Trading Card (ATC), a hand-held trading device used by traders in the pit. EOR is now averaging approximately 2,000 orders per week and is deployed in all of the Exchange’s soft commodity products.

The customized routing system lets users have the option of either phoning their orders in to the booth, or sending the order over the Internet directly to the NYBOT trading floor, where floor members then execute the order through the Open Outcry system. The order is then matched, cleared and confirmed. Users can also check the order status very easily. NYBOT's EOR system allows users to access timely market data on the Exchange's SPQR pricing systems. The EOR system is free to NYBOT Members.

NYBOT successfully deployed the EOR system onto its new trading floor at One North End Avenue on Labor Day weekend 2003, when the exchange made the transition to its new home from the backup site in Long Island City, Queens, New York. NYBOT's facilities were located in Four World Trade Center and were destroyed in the September 11th terrorist attacks.