CBOT Holdings Revenue Up 20% In Third Quarter

Chicago Board of Trade reported a 20 percent revenue climb in the third quarter of 2005, compared to last year's figures for the same period. Revenue was $112.2 million, up from $93.6 million in the third quarter of 2004. Exchange

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Chicago Board of Trade reported a 20 percent revenue climb in the third quarter of 2005, compared to last year’s figures for the same period.

Revenue was $112.2 million, up from $93.6 million in the third quarter of 2004. Exchange and clearing fee revenue in the third quarter grew 21% to $82.7 million, compared with $68.3 million in the third quarter of 2004. Third quarter operating income was $32.9 million, rising 66% from $19.8 million in the same period during the prior year.

Net income in the third quarter climbed 63% to $19.8 million, compared with $12.2 million in the third quarter of 2004.

“We added significant trading platform enhancements over the past year, which contributed to the recent growth in reported trading volume,” said Bernard W. Dan, CBOT Holdings president and CEO.

Trading volume rose 9% from the same period last year to 165.2 million contracts. Average daily volume in the third quarter of 2005 increased to 2.6 million contracts, up 9% from the third quarter of 2004. In addition, average daily volume on the CBOT’s electronic trading platform rose 20% from the same period last year.

Third quarter earnings benefited from trading volume growth along with an increase in the average rate per contract, which rose 11% above last year’s third quarter level. The average rate per contract represents total exchange and clearing fee revenue divided by total reported trading volume.

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