The Chicago Board of Trade (CBOT) announced that volume in the Exchange’s 100 percent electronically- traded Metals complex eclipsed records set on April 19, 2006 by 66%, as volume climbed to 96,630 contracts. The prior record was 58,137 contracts.
Open interest in the CBOT Metals complex totaled 40,886 contracts on April 20 — a 70% increase since the end of March. Open interest represents the number of trading positions that have not yet been offset and closed at the end of a trading day.
Robert Ray, senior vice president of business development at the exchange said: “The market’s desire for trade certainty through our transparent electronic model continues to manifest itself with the recent record-setting performances within the CBOT Metals complex. A true measure of a market’s role is demonstrated by its performance under volatile conditions, including its ability to immediately scale to meet the needs of all participants. The CBOT’s role has been clearly defined, as evidenced by these records.”
Month-to-date, the CBOT Metals futures complex accounts for more than 26 percent of listed Gold and Silver futures contracts traded in North America.