News Release

CBOT Sets All-Time Monthly Records For Total Volume, ADV, and Electronic

Thu Mar 01 2007

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 ALL-TIME MONTHLY RECORDS FOR TOTAL VOLUME, AVERAGE DAILY VOLUME AND ELECTRONIC VOLUME
--February ADV Up 29 Percent Over February 2006

CHICAGO, IL, March 1, 2007 – The Chicago Board of Trade (CBOT®), one of the world’s leading derivatives exchanges, today announced that February’s volume reached a record 86,224,665 contracts, an increase of 29 percent over February 2006.  Average daily volume (ADV) for February was a record 4,538,140 contracts traded each day, also up 29 percent compared with the same month last year.  The Exchange also reached volume highs on its e-cbot® electronic trading platform, as total volume was 66,559,385 contracts, an average of 3,503,126 contracts traded each day and an increase of 50 percent over February 2006.

Agricultural Complex

ADV in the CBOT Agricultural complex was a record 725,925 contracts in February, 40 percent greater than February 2006.  Increased electronic trading volume contributed to the higher volume totals in the Agricultural complex.  February’s electronic ADV for Agricultural futures and options was a record 301,785 contracts, up 26 percent compared with January of 2007.

February’s Agricultural trading activity was highlighted by volume increases across many of the individual products within the complex.  Corn futures (42 percent), Corn options

(93 percent), Soybean futures (39 percent), Soybean options (4 percent), Soybean Meal futures (68 percent), Soybean Oil futures (79 percent), Wheat futures (6 percent) and Wheat options (5 percent) all experienced notable volume growth in February, compared with the same month a year earlier.

Interest Rate Complex

February’s ADV in the CBOT Interest Rate complex was a record 3,621,941 contracts, up 40 percent over February 2006.  Overall complex growth was fueled by record volume totals in 2-year U.S. Treasury Note futures, 5-year U.S. Treasury Note futures and 10-year U.S. Treasury Note futures.  February 2007 ADV for 2-year Treasury Note futures was 298,240 contracts, ADV for 5-year Treasury Note Futures was 758,431 contracts, and ADV for 10-year Treasury Note futures was 1,598,272 contracts, increases of 76 percent, 19 percent and 43 percent, respectively, compared with February 2006.

Electronic trading volume of financial options contracts also continued to grow in February, as ADV reached 96,225 contracts – up 84 percent over February 2006.  The Exchange’s newest electronically-traded financial options contracts, its Binary options on the Target Federal Funds Rate, contributed to this growth, as ADV reached a record 1,411 contracts – more than double the volume from January 2007.  And, when comparing February 2007 ADV with ADV from February 2006, 30-year U.S. Treasury Bond options (193 percent), 10-year U.S. Treasury Note options (70 percent) and 5-year U.S. Treasury Note options (44 percent) all experienced electronic ADV increases.  In February 2007, 25 percent of all Financial options traded at the CBOT were executed electronically. 

ADV in the CBOT Interest Rate Swap complex was 3,662 contracts in February 2007, an increase of 1,886 contracts compared with February 2006.  Both the 5-year and 10-year Swap contracts experienced volume growth for February.  5-year Swap volume increased by 81 percent over February 2006, and 10-year Swap volume was 3 times greater than the same month last year.

Metals Complex

ADV in the CBOT Metals complex was 72,403 contracts in February, 3 times greater compared with February 2006.  Full-sized (100 Oz.) Gold futures saw ADV reach 52,313 contracts in February, 4 times greater than February 2006, but down less than 2 percent compared with January 2007.  ADV in mini-sized (33 Oz.) Gold futures was 7,087 contracts in February, up 37 percent compared with February 2006 and 19 percent greater than January 2007.

The CBOT Silver complex experienced volume growth in February, as Full-sized (5,000 Oz.) Silver futures ADV was 9,650 contracts, 7 times greater than February 2006 and 15 percent greater than January 2007.  ADV in mini-sized (1,000 Oz.) Silver futures reached 2,529 contracts during February, an increase of 83 percent compared with February 2006 and up 62 percent compared with January 2007.

Equity Index Complex

ADV in the CBOT Equity Index complex was 117,766 contracts in February, an increase of 10 percent compared with February 2006.

CBOT Average Daily Volume

 

Product Group

February

2007

February

2006

Percent Change

YTD

2007

YTD

2006

Percent Change

Agricultural

725,925

517,120

40.4%

664,221

441,621

50.4%

Financial

3,621,941

2,883,344

25.6%

2,953,902

2,557,431

15.5%

Equity Index

117,766

107,349

9.7%

115,490

112,191

2.9%

Metals, Energy and Other

72,509

20,865

247.5%

71,210

21,743

227.5%

TOTAL

4,538,140

3,528,676

28.6%

3,804,822

3,132,986

21.4%

CBOT Rate Per Contract

The following chart depicts the Exchange’s January 2007 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

 

January 31, 2007

Dec. 31, 2006

Nov. 30, 2006

Product Group

 

 

 

Interest Rate

0.561

0.569

0.565

Agriculture

0.934

0.931

0.909

Equity Indices

0.802

0.803

0.800

Metals, Energy & Other

0.910

1.001

1.052

Overall Avg. Rate per Contract

0.643

0.653

0.645

Venue

 

 

 

 Open-Auction

0.510

0.522

0.534

 Electronic

0.601

0.612

0.598

 Off-Exchange

3.036

3.179

3.180

Total Avg. Rate per Contract

0.643

0.653

0.645

About the CBOT

As one of the leading global derivative 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 our website at www.cbot.com.

Forward Looking Statements

Certain statements in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and includes any use of the words “may,” “should,” “could,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue.”  These statements are based on management’s current expectations and involve assumptions that may be subject to change or risks and uncertainties that could cause actual results to differ materially from those set forth in the statements.  Accordingly, actual outcomes and results may differ materially from what is expressed or implied in any forward-looking statement contained in this press release.  The factors that may affect our performance may be found in the Annual Report on Form 10-K and other periodic reports filed by CBOT Holdings, Inc. with the U.S. Securities and Exchange Commission (“SEC”).  These filings can be obtained at the SEC’s 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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