What is the Chicago Board of Trade (CBOT)?

The Chicago Board of Trade is the oldest operating futures and options exchange in the world. Established in 1848 as a trading floor for grain merchants in Chicago, by 1859, the CBOT was granted a charter from the state legislature in Illinois and grew into a prominent agricultural futures market.

What is the CBOT & CME?

The CBOT was traditionally an agricultural futures market, before adding financial futures in the 1970s. Today, the CBOT also offers trading in precious metals, government debt, and energy stocks. The CME was originally known as the Chicago Butter and Egg Board, launching its first futures contracts in the early 1960s with frozen pork bellies.

When did the CBOT start?

Established in 1848 as a trading floor for grain merchants in Chicago, by 1859, the CBOT was granted a charter from the state legislature in Illinois and grew into a prominent agricultural futures market. In fact, the concept of exchanging forward contracts in a "futures market" may have originated at the CBOT in the 1860s.