CBOT daily volume surges to all-time high as new clearing arrangements kick in

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The Chicago Board of Trade (CBOT®) today announced that it shattered its single day volume record, trading 3,789,424 contracts on Friday, March 5, 2004. The previous record was set only a week earlier on February 26, 2004, with 3,354,490 contracts traded.

In addition, the CBOT's electronic trading platform also reached a new record, surpassing the daily volume mark of two million contracts. On Friday, its electronic platform traded 2,104,087 contracts in one day, compared with the previous record of 1,946,978 contracts established on July 31, 2003. Currently, six of the exchange's top 10 electronic daily volume sessions have occurred since January 2, 2004, after the exchange completed transitioning all its contracts to its new electronic trading platform powered by LIFFE CONNECT.

CBOT President and CEO Bernard Dan said, "The CBOT's record volume on Friday continues to demonstrate that during volatile markets, the CBOT is the place to trade U.S Treasury products. Our focus and responsibility is on maintaining transparency and market integrity, while increasing our distribution and providing superior trading technology. As a result, we are creating the necessary confidence to bring global users to our tight, liquid markets. The CBOT's long-term commitment of providing the most value to our customers, as shown by the recent launch of a faster, more dynamic trading platform, the establishment of our innovative clearing solution, and the unrivaled focus we place on customer service, have contributed to these outstanding volume records, and I expect our volume to continue to build."

The CBOT saw a record in 10-year U.S. Treasury-note futures volume on Friday at 1,383,533 contracts, compared to 1,302,830 contracts set on February 26. Also, 10-year U.S. Treasury-note options reached a record of 446,585 contracts, compared to the previous record of 435,107 contracts set on January 9, 2004. ,P> Exchange electronic daily volume records reached on Friday included: 10-year U.S. Treasury-note futures posted volume over a million contracts for the first time, with 1,067,790 contracts traded, compared to 974,150 contracts set on July 31, 2003; Five-year U.S. Treasury-notes futures reached a record 519,454 contracts traded versus 423,331 contracts set on July 31, 2003; and the CBOT mini-sized $5 DowSM futures reached 93,096 contracts, compared to the old record of 91,831 contracts set on January 15, 2004.

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