In the last two years, the CBOT made significant improvements upon market users’ overall trading experience. The Exchange upgraded the technology and functionality of transmitting and processing transactions associated with clearing CBOT business. While making these enhancements, the CBOT’s clearing fees remained unchanged.
CBOT President and CEO Bernard W. Dan said, “The CBOT is proud of its track record of providing enhancements to its trading environment whenever possible and investing in delivering the high-quality products and services required by our diverse customer base. While striving to continually improve the overall CBOT trading experience, the Exchange also is examining its fee schedule in order to ensure it remains competitive with other global Exchanges within the futures industry.”
The new clearing fee at the CBOT will be $0.06, compared with the current fee of $0.05. The new fee will apply to both members and non-members of the Exchange. In addition, the off-exchange transaction fees being amended include Exchange for Physicals (EFP) and Exchange for Swaps (EFS) for U.S. Treasuries and other Financials and Metals, EFP and Exchange for Risk (EFR) for Agricultural products, and wholesale transaction fees on Swaps.
Further, the CBOT has realigned exchange fees for trading Agricultural products electronically for both members and non-members. This move precedes the August 1 listing of CBOT Agricultural futures electronically during daytime trading hours, an initiative that will provide market users greater access to the CBOT’s highly liquid Agricultural markets and increased trading opportunities.
In aggregate, the adjustments described above are expected to raise the average rate per contract in the 2006 third and fourth quarter 5 percent to 8 percent compared with the average rate in the 2006 first quarter of $0.552 per contract. The rate per contract estimate assumes that the future volume transaction mix is similar to the mix experienced year-to-date. The average rate per contract represents total exchange and clearing fee revenue divided by total reported trading volume.
To view the new fee schedule in its entirety, please visit www.cbot.com > About CBOT > Exchange Fees.