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.

What is the Chicago Mercantile Exchange (CBOT)?

The Chicago Mercantile Exchange, sometimes referred to as the Merc, has both public outcry trading floors and an electronic trading platform called GLOBEX, where more than 70% of its transactions take place. What are the Similarities between CBOT and CME?

How did the Board of trade start?

In 1859 the Board of Trade received a charter from the Illinois legislature and was given power to set quality controls. At first, grain was sold by sample, but soon a system of inspection and grading was introduced to standardize the market and facilitate trading.

Why was Chicago chosen as a livestock exchange location?

Later, futures contracts on products such as cattle and other livestock were added. Chicago was chosen as the exchange location because of its railroad infrastructure, its proximity to the American agricultural heartlands and the city's position as a key transit point for livestock.