Exchanges
The membership of Chicago Board of Trade (CBoT) voted in favour of changes to the exchange's certificate of incorporation and rules to eliminate the member approval requirement for electronic trading of agricultural products during the day (see FO Week Vol 11 No 4). Approximately 86% of the total votes cast of the full associate memberships were in favour of the changes. The membership approval gives the CBoT board of directors the ability to determine the best time and venue for trading agricultural contracts and products.
New York Board of Trade has announced that total monthly trading volumes for February stood at 3.21m contracts, making it the biggest trading month in its 136-year history. Its agricultural products also reached a new all-time high of 2.89m, whilst its cotton number two contract achieved a record 617,635 contracts for the month. In addition, its sugar number 11 contract was up 40% year-on-year. ...