Derivative market where trading of options and futures contracts (futures) on agricultural products and financial instruments, the Chicago Board of Trade (CBOT), which was acquired in 2007 by its direct competitor the Chicago Mercantile Exchange (CME) for a $ 8 billion, was in 1848 the first futures exchange in agricultural commodities.
Main center for delivering cereals from the American Midwest, port activities and the importance of the railway network of the city of Chicago did the rest.
From 1848 to 1975, the CBOT specialized in grain markets (wheat, corn, oats) and oilseeds (soybeans), while a clearing house for the proper functioning and the guarantee of futures transactions, was created in 1925.
Bourse remained today the first in the world in terms of agricultural raw materials, far ahead of the Tokyo Grain Exchange, transactions (options and futures) on agricultural Chicago Board Of Trade now account for 13% of volumes exchanged annually, contracts on financial instruments generate much higher volumes.
Outside of futures and options on agricultural products are therefore developed at the Chicago Board of Trade from 1970, contracts on the following financial instruments:
Future on the stock index commodities Dow Jones - AIG;
Futures and options and the Dow Jones flagship, the DJIA (Dow Jones Industrial Average);
Rate futures and options on US Treasury bills (Treasury Bonds) at 2, 5, 10 and 30; Fed Funds at 30 days; rate swaps at 5 and 10 years;
Futures contracts on euro-dollar mini and mini Treasuries.
|