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Chicago Board of Trade (CBOT)


A leading futures and options on futures exchange that was founded in 1848. The original purpose was to help the agricultural industry manage risk through the trade of agricultural commodities such as corn, wheat, oats, and soybeans. Over time futures contracts were introduced on non-storable agricultural commodities and non-agricultural products. There are currently over 3 600 members who trade 50 different futures and options products. See also CME Group.


Reference: Oxford Press Dictonary of Economics, 5th edt.