Clearing Corporation Waives Fees for Mini-Sized Metals Contracts at CBOT.Business Editors CHICAGO--(BUSINESS WIRE)--Feb. 27, 2003 The Board of Trade Clearing Corporation (the "Clearing Corporation") announced it has approved a temporary waiver of clearing fees for the Chicago Board of Trade Chicago Board of Trade (CBOT) The second largest futures exchange in the US, and a pioneer in the development of financial futures and options. (CBOT See Chicago Board of Trade. CBOT See Chicago Board of Trade (CBOT). ) mini-sized metals contracts. The waiver of mini-sized Gold and mini-sized Silver futures are effective on March 1, 2003 and will expire on May 31, 2003, unless an extension is announced. The waiver covers all participants for open outcry Open Outcry A method of trading on a commodity exchange by making verbal bids and offers in the trading pits. Notes: A contract is made if one trader cries out that he wants to sell at a certain price and then another trader yells out that he will buy at that same price. and electronic trades. "The Clearing Corporation supports the CBOT's endeavor to encourage additional volume growth in the mini-sized gold and silver futures contracts," said Michael C. Dawley, Chairman of the Board of the Clearing Corporation. Additionally, the CBOT has announced an increase in 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. in its mini-sized metals contracts, with open interest in mini-sized Gold futures reaching almost 2,000 contracts. About the Clearing Corporation The Board of Trade Clearing Corporation, a Delaware corporation now in its 78th year of business, maintains a Standard & Poor's AAA AAA: see American Automobile Association. (Triple A) A common single-cell battery used in a myriad of electronic devices of all variety. Like its double A (AA) cousin, it provides 1.5 volts of DC power. When used in series, the voltage is multiplied. rating and approximately $200 million in capital. The company is owned by its clearing member stockholders and is the only active independent futures clearinghouse in the world. Additional information on the Clearing Corporation is available at www.clearingcorporation.com. |
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