What is the Chicago Board of trade?

Today, the Chicago Board of Trade is part of the Chicago Mercantile Exchange (CME) Group. The Chicago Mercantile Exchange Group is the world’s leading and most diverse derivatives marketplace, made up of four exchanges: The COMEX. Each exchange offers a wide range of global benchmarks across major asset classes.

When did the Chicago Mercantile Exchange buy the Chicago Board of trade?

On October 17, 2006, the Chicago Mercantile Exchange announced the purchase of the Chicago Board of Trade for $8 billion in stock, joining the two financial institutions as CME Group, Inc. On July 9, 2007 CBOT Shareholders approve merger with the Chicago Mercantile Exchange "creating the largest derivatives market ever."

How tall is the Chicago Board of trade?

Since 1930, the Chicago Board of Trade has been operating out of 141 West Jackson Boulevard, Chicago, in a building designed by architects Holabird & Root that is 605 feet (184 m) tall, the tallest in Chicago until the Richard J. Daley Center superseded it in 1965.

Why was credit risk a problem at the Chicago Board of trade?

Men working the floor at the Chicago Board of Trade as photographed by Stanley Kubrick for Look magazine in 1949 The concerns of U.S. merchants to ensure that there were buyers and sellers for commodities have resulted in forward contracts to sell and buy commodities. Still, credit risk remained a serious problem.