Chicago Board of Trade (CBOT) announced that it has successfully completed the implementation of its North American Trading Host, moving the site of the trading host for the Exchange's electronic trading platform, e-cbot, powered by LIFFE CONNECT, to Chicago from London.
Moving the trading host to Chicago was one of the key initiatives in the Exchange's overall technology strategy. The strategy's main focus included adding new functionalities to e-cbot that increased the speed and efficiency of transactions moving through the system, as well as additional trading capabilities in response to customer demand following the launch of the e-cbot platform in 2004. Moving the trading host to Chicago and extending the hours of operation on e-cbot from 21 to 22 hours were also critical components of the overall rollout strategy.
CBOT Chief Operating Officer Bryan T. Durkin said, "Moving the trading host from London to Chicago is the latest chapter in our technology enhancement rollout plan. The move went smoothly and early reports indicate that customers' reaction to the change has been favorable. Overall, the response to this enhancement complements the positive responses we've received from the marketplace when we rolled out the new functionality and extended the trading scheduled on the electronic platform. Our team continues to work closely with each customer to ensure a smooth transition for everyone."
From January through September 2005, the CBOT's electronic trading volume has increased 32.4 percent to 335,280,401 contracts, up from 253,162,044 contracts over the same period last year.