BrokerTec Futures Exchange Trades Its Two Millionth Contract As It Marks Its One-Year Anniversary - Sets Monthly Volume Record in November.Business Editors JERSEY CITY, N.J.--(BUSINESS WIRE)--Dec. 3, 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 fixed income futures exchange, announced that it traded its two millionth contract today, just 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 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 U.S. Treasury Created in 1798, the United States Department of the Treasury is the government (Cabinet) department responsible for issuing all Treasury bonds, notes and bills. Some of the government branches operating under the U.S. Treasury umbrella include the IRS, U.S. 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 fueled 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. About BrokerTec Futures Exchange: BrokerTec Futures Exchange is a designated contract market approved by the CFTC CFTC See: Commodity Futures Trading Commission CFTC See Commodity Futures Trading Commission (CFTC). that offers a low-cost solution for the electronic trading of U.S. fixed income 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. . 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, 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. For more information, go to www.btecfutures.com. c 2002 BrokerTec Global LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and its affiliated companies. All rights reserved. BrokerTec is the marketing name for BrokerTec Global, LLC. BrokerTec, the related marks and phrases are trademarks, service marks and logos of BrokerTec Global, LLC in the United States and other countries throughout the world. |
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