Nybot lists financials on CBOT

The New York Board of Trade (Nybot) has entered into a non-binding agreement with the Chicago Board of Trade (CBOT), allowing its financial products to be traded on CBOT’s electronic platform.

Frederick Schoenhut, Nybot’s chairman, said that the decision provides the financial products with “the tools it needs to ensure continued growth in a very competitive market”.

The US Dollar Index will start trading electronically as soon as possible, while the remaining financial products will be rolled out by the fourth quarter 2006, says a Nybot spokesman. In 2005, financial futures trading volumes on Nybot’s open-outcry trading floor reached record levels – for instance, 3.6 million currency futures contracts traded compared to 2.5 million contracts in 2004.

The hosting agreement is the third the CBOT has entered into with North American grain exchanges following agreements with the Kansas City Board of Trade, Minneapolis Grain Exchange and the Winnipeg Commodity Exchange in Canada. And in late 2005, it announced that it intends to build an all-electronic commodities exchange in partnership with the Singapore Exchange, called the Joint Asia Derivatives Exchange.

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