BrokerTec Futures Exchange (BTEX), the electronic fixed income futures exchange, announced today that it had traded its two millionth contract, three days after celebrating its one-year anniversary on November 30th. BTEX also set a new monthly volume record with 430,888 contracts traded during November, a 105% increase over the previous monthly record of 210,586 contracts traded in October.
In addition, BTEX says it gained momentum with new daily records throughout November. On November 14th, BTEX announced that it surpassed 30,000 contracts traded in a single day for the first time, setting a daily screen-traded volume record of 31,380. Record volumes in 10-year Treasury note and 30-year Treasury bond futures of 13,641 and 12,986 contracts, respectively, were also set. The exchange also reached a new record for weekly volume when 140,715 contracts were traded during the week of November 4th, a 98% increase over the previous weekly record of 71,268 contracts.
“BTEX’s two millionth contract milestone and record November is a tribute to the unyielding support and participation from our expanding base of end-users and members,” said Hank Mlynarski, President, BrokerTec Futures Exchange. “In just 12 months since commencing trading in U.S. Treasury bond and note futures, BTEX has proven to be a viable electronic trading venue as the quality and depth of our market continues to improve.”
The increase in volume and liquidity is being fuelled by a significant rise in interest from institutional traders. “In 2003, our goal is to increase volume and liquidity further by maintaining tight, liquid, competitive markets at a low cost. In turn, we will continue to experience increased performance and participation from market makers, e-locals, proprietary traders and institutional end users,” added Mr. Mlynarski.