BrokerTec Futures Exchange Sets New Records For Screen-Traded Volume.Business Editors JERSEY CITY, N.J.--(BUSINESS WIRE)--Nov. 6, 2002 BrokerTec Futures Exchange Futures Exchange Traditionally, a term referring to a central marketplace where futures contracts and options on futures contracts are traded. More recently, with the growth in electronic trading, it is also used to describe the activity of futures trading itself. (BTEX BTEX Benzene, Toluene, Ethylbenzene, and Xylenes (volatile organic compounds) ), the nation's only fully-electronic financial futures financial futures Obligations to buy or sell particular positions in financial instruments. The features of financial futures are identical to those of any futures contract except that the asset for delivery is of a financial nature. exchange, announced today that it set consecutive daily screen- traded volume records on Monday and Tuesday with 25,171 and 27,570 contracts traded, respectively. These are the highest daily screen-traded volumes on the exchange since its launch last year on November 30, 2001. Yesterday's daily record of 27,570 contracts represents a 50% increase from the earlier record of 18,296 contracts. These important milestones follow a record month in October in which traded volume reached 210,586 contracts, breaking the previous volume record of 200,128 contracts set in June 2002. "The expansion of our base of end users, along with increased participation from our members, has contributed to this momentum and continues to drive our mission to deliver a low-cost marketplace for financial futures," stated Hank Mlynarski, President of BTEX. About BrokerTec Futures Exchange: BrokerTec Futures Exchange (BTEX) is a designated contract market approved by the CFTC CFTC See: Commodity Futures Trading Commission CFTC See Commodity Futures Trading Commission (CFTC). in June 2001. BTEX offers a low-cost solution for the electronic trading of U.S. fixed income financial futures. BTEX, a subsidiary of BrokerTec Global, is owned and supported by a broad cross section of futures industry participants, including global financial institutions and banks, major securities firms, futures commission merchants (FCMs), as well as a variety of proprietary trading Proprietary Trading When a firm trades for direct gain instead of commission dollars. Essentially, the firm has decided to profit from the market rather than commissions from processing trades. firms and individuals. BTEX commenced trading in U.S. Treasury securities U.S. Treasury securities Interest-bearing obligations if the U.S. government issued by the U.S. Department of the Treasury as a means of borrowing money to meet government expenditures not covered by tax revenues. futures contracts on November 30, 2001. |
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