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Chicago Board of Trade launches global developing markets program

20 July 2006  |  1351 views  |  0 Source: Cbot

The Chicago Board of Trade (CBOT) today announced it will launch a Global Developing Markets Program (GDM), furthering its strategy to expand global access to the CBOT's liquid and transparent markets.

Through targeted fee waivers, the Exchange is increasing trading opportunities and encouraging volume growth among traders located in countries that have not historically been active in CBOT markets.

Proprietary trading groups and trading arcades will be eligible to qualify for the program, which will provide registered participants with transaction and clearing fee waivers for up to 250,000 sides for all electronically traded CBOT products during a two-year period. The GDM Program is set to begin on Tuesday, August 1, 2006.

CBOT President and CEO Bernard W. Dan said, "The Global Developing Markets Program is a proactive approach to broadening the base of participation in the CBOT's markets and to increase the international distribution of our products. While electronic trading has broken down many artificial boundaries, we believe that untapped potential still exists around the world in areas where the benefits of our products may not yet be widely known. By partnering with qualified firms and providing them with the right training, the CBOT GDM Program is fostering the growth of a truly global marketplace."

Participants trading from the following locations are excluded from participating in the program: Austria, Australia, Belgium, Canada, France, Germany, Hong Kong, Ireland, Italy, Japan, Luxembourg, Monaco, the Netherlands, New Zealand, Portugal, Scandinavia, Singapore, Spain, Switzerland, the United Kingdom, and the United States. The CBOT retains the authority to determine whether a location is, or is no longer, considered to be an approved developing market for the GDM Program.

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