The term Chicago Board of Trade refers to a market where buyers and sellers can negotiate and enter into forward contracts. The Chicago Board of Trade is one of the world's premier futures and options exchanges.
Also referred to as the CBOT, the Chicago Board of Trade is a centralized location that allows buyers and sellers of commodities to enter into forward contract agreements. These agreements are facilitated through a combination of electronic trading and the traditional process of open outcry.
Structurally, the CBOT merged with the Chicago Mercantile Exchange (CME) to form the CME Group. Other exchanges that are part of this group include NYMEX and COMEX. Trading on the CBOT occurs Sunday through Friday, 6:00 p.m. through 5:15 p.m. Eastern Time, with a 45-minute break each day beginning at 5:15 p.m. Eastern Time. Futures and options traded on the CBOT include: interest rate swaps, treasury interest rates, interest rate stirs, wheat, corn, soybean, Dow Jones Real Estate futures, e-mini Dow futures, ethanol, and Treasury bond futures.