News Release

CBOT Sets Quarterly Record for Volume as Total Increases By 13 Percent

Mon Jul 03 2006

For Immediate Release

 

Media Contact:                                                                                    Investor Contact:
Craig Grabiner                                                                                     Deborah Koopman
(312) 341-5758                                                                                  (312) 789-8532
news@cbot.com                                                                                  investorrelations@cbot.com

CBOT®SETS QUARTERLY RECORD FOR VOLUME AS TOTAL INCREASES BY 13 PERCENT OVER Q2 2005
Exchange Averages a Record 3.3 Million Contracts Traded Per Day in the Second Quarter

CHICAGO, IL, July 3, 2006 – The Chicago Board of Trade (CBOT), one of the world’s leading derivatives exchanges, today announced that volume during the second quarter of 2006 reached a record 208,019,646 contracts, an increase of 13 percent over the second quarter of 2005.  Volume for the second quarter averaged a record 3,301,899 contracts per day, up 14 percent from the same period last year.  Average daily volume (ADV) on the Exchange’s e-cbot® electronic trading platform also set a record during the second quarter with 2,220,253 contracts traded each day, a 20 percent increase compared with the second quarter of 2005.

Total CBOT volume for June 2006 was 70,723,405 contracts, a 20 percent increase over June 2005.  June’s volume total ranks as the second highest volume month in the history of the Exchange.  The all-time CBOT monthly volume record was set in May 2006 – 79,828,143 contracts.  Electronic ADV in June 2006 reached 2,084,112 contracts, 30 percent greater than June 2005.

CBOT Metals Volume Increases; Complex Market Share Continues to Grow

The 100-percent electronically-traded CBOT Metals complex continued to experience increasing volume during the second quarter of 2006, as ADV was 53,952 contracts – nearly two-and-a-half times greater than the first quarter of 2006.  On June 23, the CBOT Gold futures complex reached 50 percent market share in daily volume of North American-listed Gold futures for the first time.  Volume totaled 36,273 contracts during the trading session.

For the month of June, the Exchange’s Metals complex accounted for 41 percent of listed Metals futures in North America.  The CBOT Metals complex includes Full-sized (100 oz.) Gold futures and options contracts, mini-sized (33 oz.) Gold futures contracts, Full-sized (5,000 oz.) Silver futures and options contracts and mini-sized Silver futures contracts.

Exchange’s Interest Rate Complex Continues Growth Across the Yield Curve

Quarterly ADV within the CBOT Interest Rate complex was 2,588,352 contracts – a 9 percent increase compared with the second quarter of 2005.  June ADV for the Interest Rate complex reached 2,422,641 contracts, 18 percent greater than June 2005.  Volume in the CBOT Interest Rate futures and options complex continues to display growth at both the short end and the long end of the yield curve.  At the short end of the curve (30-Day Federal Funds futures and options, Two-Year U.S. Treasury Note futures and options), June ADV was 308,219 contracts, a 108 percent increase over June 2005.  Meanwhile, on the long end of the curve (10-Year Treasury Note futures and options, 30-Year U.S. Treasury Bond futures and options), ADV reached 1,635,949 contracts for a 16 percent increase compared with last June.

For the second consecutive month, the Exchange set records for the electronic trading of Financial options contracts.  A total of 2,066,232 Financial options traded on the e-cbot platform in June 2006 – an average of 93,920 contracts per day and more than three times greater than June 2005. Last month, 19 percent of Financial options trades at the CBOT were executed electronically.

CBOT Agricultural Complex Sets Several Quarterly, Monthly Records

The CBOT Agricultural futures and options complex reached volume records for both the second quarter and the month of June.  For the quarter, ADV was a record 528,772 contracts, a 31 percent increase over the second quarter of 2005.  In June, ADV reached 593,798 contracts, 16 percent greater than the same month last year.  The new volume records in the Exchange’s Ag complex were driven, in part, by record performance in Corn futures and Wheat futures contracts, which saw monthly ADV grow by 36 percent and 49 percent, respectively.  The CBOT also set quarterly total volume records for Corn futures (11,973,980 contracts), mini-sized Corn futures (42,130 contracts), Corn options (2,636,550 contracts) Wheat futures (4,428,735 contracts), Wheat options (667,677 contracts) and Soybean Oil futures (2,579,463 contracts).

Increasing ADV of Mini-Sized Dowsm Futures Leads to Record Volume in CBOT Equity Index Complex

The CBOT Equity Index complex experienced ADV records for both the 2006 second quarter and the month of June.  In June, the complex averaged 147,721 contracts traded per day, while ADV for the quarter was 130,698 contracts – increases of 41 percent and 14 percent, respectively, over the same periods in the prior year.  The Exchange’s mini-sized Dow Jones futures contracts were a major contributor to the complex’s success, also setting monthly and quarterly ADV records.  For the quarter, an average of 119,369 mini-Dow futures contracts traded each day, up 15 percent over the second quarter of 2005.  And in June, ADV for mini-Dow futures was 131,973 contracts, 41 percent greater than in June 2005.

CBOT Average Daily Volume

Product Group

June

2006

June

2005

Percent Change

Q2

2006

Q2

2005

Percent Change

Agricultural

593,798

510,851

16%

528,772

403,608

31%

Financial

2,422,641

2,059,003

18%

2,588,352

2,367,719

9%

Equity Indices

147,721

104,766

41%

130,698

114,728

14%

Metals, Energy and Other

50,540

3,380

1,395%

54,077

3,004

1,700%

TOTAL

3,214,700

2,677,999

20%

3,301,899

2,889,059

14%

CBOT Rate Per Contract

The following chart depicts the Exchange’s May 2006 three-month rolling average rate per contract (in dollars), and the two preceding three-month periods’ average rates per contract.  Average rate per contract represents total exchange and clearing revenue divided by total reported trading volume.  Average rates per contract can be affected by exchange and clearing fee price levels, and the customer, product, venue and transaction mix.

 

THREE-MONTH PERIOD ENDING

 

May 31, 2006

Apr. 30, 2006

Mar. 31, 2006

Product Group

 

 

 

Interest Rate

0.531

0.524

0.517

Agriculture

0.674

0.685

0.673

Equity Indices

0.764

0.771

0.760

Metals, Energy & Other

1.012

1.161

1.312

Overall Avg. Rate per Contract

0.566

0.562

0.552

Venue

 

 

 

 Open-Auction

0.510

0.516

0.515

 Electronic

0.514

0.504

0.495

 Off-Exchange

2.429

2.345

2.296

Total Avg. Rate per Contract

0.566

0.562

0.552

For more information on the CBOT, to view the Exchange’s daily and monthly volume and open interest records, and details on ADV and volume from previous months in 2006, please visit www.cbot.com.

About the CBOT

As one of the leading global derivatives exchanges, the Chicago Board of Trade provides a diverse mix of financial, equity and commodity futures and options-on-futures products. Building on its 158-year history, the CBOT continues to advance into the future using the strength of deep liquidity, market integrity and member-trader expertise. Using superior trading technology in both electronic and open-auction trading platforms, the CBOT provides premier customer service to risk managers and investors worldwide.  For more information, visit www.cbot.com.

Forward Looking Statements

In this release, our use of the words “may,” “should,” “could,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or other comparable terminology is intended to identify forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied in any forward-looking statements. More detailed information about factors that may affect our performance may be found in filings made by CBOT Holdings, Inc. with the Securities and Exchange Commission, which can be obtained at its website at www.sec.gov. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

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