BrokerTec Futures Exchange Trades One-Millionth Contract.Business Editors JERSEY CITY, N.J.--(BUSINESS WIRE)--July 23, 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 futures market futures market, a commodity exchange where contracts for the future delivery of grain, livestock, and precious metals are bought and sold. Speculation in futures serves to protect both the developers and the users of the commodities from unfavorable and unpredictable for 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. futures, announced that it traded its one-millionth contract on July 22, 2002, only seven and a-half months since the Exchange commenced trading operations in U.S. Treasury bond and note futures on November 30, 2001. "Since our launch, BTEX has seen growth in volumes as market participants embrace the unique offerings and efficiencies of our strong and robust electronic trading platform," said Hank Mlynarski, BTEX President. "The addition of new members, the quality of our markets and the increase in deployment have contributed to our achievement," he added. In the month of June, BTEX experienced improved performance, setting a record in monthly trading volume Trading volume The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares. that surpassed 200,000 contracts and exceeded 10,000 contracts in average daily traded volume. "We are proud to see that in only seven and a-half months we reached the one-millionth milestone while it took other industry players considerably longer to achieve the same goal. We look forward to continuing on this growth path and further strengthening our position in the 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. markets by deepening the pool of market participants and expanding our contracts," Mlynarski concluded. About BrokerTec Futures Exchange BrokerTec Futures Exchange (BTEX) is a subsidiary of BrokerTec Global, L.L.C., the fully-electronic inter-dealer broker that has transacted more than $35 trillion (single count) in fixed income securities since it began operations on June 29, 2000. BTEX offers a low-cost solution for the electronic trading of U.S. fixed income financial futures. BTEX's open membership includes futures commission merchants, local trading firms and individuals. The Exchange commenced trading in U.S. Treasury bond and note futures on November 30, 2001. |
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