CFTC Annual Report 1997

Average Monthend Open Interest (Contracts)

Volume of Trading (Contracts)

1995-1996 1996-1997 1995-1996 1996-1997
Exchange/
Commodity 		Calls Puts Totals Calls Puts Totals Calls Puts Totals Calls Puts Totals
Chicago Board of Trade (CBT)
WHEAT 65,337 43,828 109,165 65,981 43,408 109,389 1,161,506 718,740 1,880,246 939,762 750,519 1,690,281
CORN 210,668 197,854 408,522 207,532 149,877 357,409 3,681,652 2,838,417 6,520,069 2,864,373 2,198,253 5,062,626
OATS 3,226 2,249 5,475 1,840 734 2,574 33,306 22,298 55,604 18,975 5,960 24,935
ROUGH RICE 1,246 677 1,923 1,511 1,897 3,408 9,296 5,820 15,116 14,131 16,460 30,591
SOYBEANS 133,395 87,859 221,254 137,892 91,253 229,145 3,030,032 1,877,939 4,907,971 3,230,240 2,106,806 5,337,046
SOYBEAN OIL 16,625 12,925 29,550 17,389 9,557 26,946 167,436 117,108 284,544 154,525 114,055 268,580
SOYBEAN MEAL 22,424 15,313 37,737 22,850 16,619 39,469 331,844 221,730 553,574 361,875 262,370 624,245
US CORN YIELD INSURANCE 6 1 7 6 2 8 6 1 7 0 4 4
IOWA CORN YIELD INSURANCE 147 314 461 24 126 150 374 813 1,187 36 87 123
ILLINOIS CORN YIELD INSURANCE 0 12 12 0 0 0 0 15 15 0 0 0
OHIO CORN YIELD INSURANCE 0 22 22 0 12 12 0 114 114 0 21 21
DIAMMONIUM PHOSPHATE 15 0 15 10 0 10 30 0 30 20 0 20
US TREASURY BONDS 364,080 275,156 639,236 392,284 289,988 682,272 13,328,338 12,118,576 25,446,914 15,481,203 13,443,195 28,924,398
2-YEAR US TREASURY NOTES 177 175 352 98 232 330 1,643 1,986 3,629 1,581 2,084 3,665
10-YEAR US TREASURY NOTES 214,334 175,821 390,155 158,215 126,414 284,629 4,401,938 3,730,866 8,132,804 3,166,093 2,777,717 5,943,810
5-YEAR US TREASURY NOTES 65,346 62,910 128,256 44,518 40,278 84,796 1,397,387 1,522,694 2,920,081 996,848 1,110,597 2,107,445
MUNICIPAL BOND INDEX 563 1,565 2,128 8,388 16,308 24,696 4,899 16,333 21,232 73,714 137,033 210,747
CANADIAN BONDS 0 0 0 0 0 0 0 0 0 0 0 0
MEXICO BRADY BOND INDEX 210 20 230 0 0 0 420 20 440 0 0 0
YIELD CURVE 10-2 0 0 0 87 114 201 0 0 0 256 226 482
YIELD CURVE 10-5 0 0 0 21 2 23 0 0 0 37 12 49
YIELD CURVE 30-10 0 0 0 172 163 335 0 0 0 640 588 1,228
YIELD CURVE 30-2 0 0 0 158 138 296 0 0 0 658 455 1,113
YIELD CURVE 30-5 0 0 0 59 4 63 0 0 0 166 111 277
YIELD CURVE 5-2 0 0 0 10 0 10 0 0 0 285 210 495
NAT�L CATASTROPHE INS QI 0 0 0 0 0 0 0 0 0 0 0 0
NAT�L CATASTROPHE INS SC A 0 0 0 1,096 0 1,096 0 0 0 1,822 0 1,822
NAT�L CATASTROPHE INS SC Q 34 0 34 791 200 991 40 0 40 1,905 274 2,179
NAT�L CATASTROPHE INS LC Q 324 0 324 4 0 4 2,600 0 2,600 0 0 0
EASTERN CATASTROPHE INS QI 2,193 63 2,256 0 0 0 116 0 116 0 0 0
EASTERN CATASTROPHE INS SC Q 1,427 0 1,427 4,200 0 4,200 5,618 0 5,618 2,802 0 2,802
EASTERN CATASTROPHE INS LC Q 20 0 20 10 0 10 50 0 50 0 0 0
MIDWEST CATASTROPHE INS QI 30 0 30 0 0 0 0 0 0 0 0 0
MIDWEST CATASTROPHE INS SC 82 0 82 1,750 2 1,752 196 0 196 2,450 2 2,452
WESTERN CATASTROPHE INS AI 4 0 4 0 0 0 0 0 0 0 0 0
WESTERN CATASTROPHE INS SC ANN 485 0 485 1,812 0 1,812 1,628 0 1,628 632 0 632
NORTHEASTERN CAT INS SC QTR 282 0 282 685 0 685 564 0 564 920 0 920
SOUTHEASTERN CAT INS SC QTR 76 0 76 742 3 745 166 0 166 1,988 3 1,991
SOUTHEASTERN CAT INS LC QTR 20 0 20 0 0 0 40 0 40 0 0 0
TEXAS CATASTROPHE INS SC QTR 274 0 274 363 0 363 530 0 530 110 0 110
TEXAS CATASTROPHE INS LC QTR 4 0 4 4 0 4 4 0 4 0 0 0
FLA. CATASTROPHE INS SC QTR 26 0 26 1,337 0 1,337 60 0 60 1,424 0 1,424
CAL. CATASTROPHE INS SC AI 4 0 4 216 0 216 4 0 4 1,408 0 1,408
1000 TROY OUNCE SILVER 124 12 136 48 1 49 545 47 592 59 2 61
Total CBT 1,103,208 876,776 1,979,984 1,072,103 787,332 1,859,435 27,562,268 23,193,517 50,755,785 27,320,938 22,927,044 50,247,982
Kansas City Board of Trade (KCBT)
WHEAT 4,585 4,059 8,644 5,670 4,458 10,128 40,005 30,988 70,993 52,724 43,804 96,528
STOCK INDEX FUTURE, MVL 70 50 120 42 33 75 843 898 1,741 987 613 1,600
NATURAL GAS 250 323 573 7 0 7 1,801 1,800 3,601 0 31 31
Total KCBT 4,905 4,432 9,337 5,719 4,491 10,210 42,649 33,686 76,335 53,711 44,448 98,159
Minneapolis Grain Exchange (MGE)
WHEAT 973 614 1,587 2,569 1,220 3,789 11,113 5,937 17,050 24,934 11,596 36,530
WHITE WHEAT 220 286 506 257 587 844 1,813 1,594 3,407 2,586 5,317 7,903
WHEAT-EUROPEAN 3 3 6 11 11 22 12 12 24 40 40 80
BARLEY 4 4 8 4 4 8 4 4 8 0 0 0
WHITE SHRIMP 8 4 12 13 17 30 25 15 40 113 66 179
BLACK TIGER SHRIMP 12 20 32 32 46 78 162 250 412 341 457 798
Total MGE 1,220 931 2,151 2,886 1,885 4,771 13,129 7,812 20,941 28,014 17,476 45,490
MidAmerica Commodity Exchange (MCE)
WHEAT 328 237 565 564 121 685 2,227 1,314 3,541 2,722 1,518 4,240
CORN 584 483 1,067 1,169 597 1,766 4,877 2,693 7,570 5,687 3,976 9,663
SOYBEANS 1,194 488 1,682 2,064 426 2,490 9,326 2,856 12,182 15,521 4,103 19,624
SOYBEAN OIL 1 0 1 2 1 3 0 0 0 2 1 3
US TREASURY BONDS 11 5 16 17 18 35 330 167 497 523 483 1,006
GOLD, NEW YORK DELIVERY 56 36 92 12 0 12 318 122 440 15 0 15
Total MCE 2,174 1,249 3,423 3,828 1,163 4,991 17,078 7,152 24,230 24,470 10,081 34,551
New York Mercantile Exchange (NYMEX) and Commodity Exchange, Inc. (COMEX)
NO. 2 HEATING OIL, NY HARBOR 37,514 20,471 57,985 66,755 31,717 98,472 632,039 308,240 940,279 825,495 433,716 1,259,211
NATURAL GAS 53,459 43,546 97,005 81,880 72,776 154,656 653,496 549,090 1,202,586 1,003,795 783,098 1,786,893
ALBERTA NATURAL GAS 0 0 0 0 5 5 0 0 0 10 5 15
ELECTRICITY (CA-OR BORDER) 299 620 919 447 1,057 1,504 2,289 2,725 5,014 3,266 4,825 8,091
ELECTRICITY (PALO VERDE) 250 334 584 663 900 1,563 921 1,104 2,025 4,058 7,110 11,168
CRUDE OIL, LIGHT �SWEET� 220,646 165,959 386,605 262,742 192,758 455,500 2,539,635 2,362,083 4,901,718 2,824,203 2,578,549 5,402,752
UNLEADED GAS, NY HARBOR 23,592 11,972 35,564 36,835 15,818 52,653 448,228 206,635 654,863 697,567 316,875 1,014,442
SPREADS, HEATING OIL TO CRUDE 3,935 1,522 5,457 1,735 595 2,330 38,025 14,000 52,025 16,640 10,325 26,965
SPREADS, UNLEADED GAS TO CRUDE 1,255 504 1,759 2,307 676 2,983 20,964 10,718 31,682 27,404 12,894 40,298
PLATINUM 2,584 807 3,391 2,353 897 3,250 31,876 6,425 38,301 22,361 10,500 32,861
SILVER 54,661 21,802 76,463 53,501 15,935 69,436 699,541 302,310 1,001,851 538,762 194,729 733,491
COPPER, GRADE #1 6,629 2,497 9,126 8,652 2,914 11,566 72,128 40,317 112,445 110,254 51,990 162,244
GOLD 226,936 77,575 304,511 262,818 97,487 360,305 1,749,462 466,905 2,216,367 1,247,718 581,574 1,829,292
Total NYMEX/COMEX 631,760 347,609 979,369 780,688 433,535 1,214,223 6,888,604 4,270,552 11,159,156 7,321,533 4,986,190 12,307,723
New York Cotton Exchange (NYCE) and New York Futures Exchange (NYFE)
COTTON NO. 2 47,941 42,812 90,753 37,248 31,445 68,693 483,700 413,091 896,791 350,618 281,501 632,119
RUSSET POTATOES 0 0 0 6 0 6 0 0 0 36 2 38
FROZEN CONCENTRATED ORANGE JUICE 19,433 17,070 36,503 33,571 12,493 46,064 166,865 125,180 292,045 271,557 109,852 381,409
U.S. DOLLAR/DMARK CROSS RATE 5 0 5 20 25 45 207 0 207 468 200 668
SFRANC/DMARK CROSS RATE 488 66 554 752 47 799 4,676 920 5,596 2,030 305 2,335
JYEN/DMARK CROSS RATE 332 0 332 77 45 122 531 1,319 1,850 385 233 618
FFRANC/DMARK CROSS RARE 130 84 214 132 50 182 1,226 367 1,593 218 50 268
ILIRA/DMARK CROSS RATE 13 17 30 95 36 131 203 44 247 529 189 718
BPOUND/US DOLLAR CROSS RATE 0 0 0 12 0 12 0 0 0 6 0 6
BPOUND/DMARK CROSS RATE 291 273 564 97 582 679 3,113 3,227 6,340 777 3,904 4,681
U.S. DOLLAR/JYEN CROSS RATE 300 200 500 211 100 311 600 200 800 459 775 1,234
New York Cotton Exchange (NYCE) and New York Futures Exchange (NYFE) -- continued
STOCK INDEX, NYSE CMP NEW 834 1,661 2,495 2,809 2,221 5,030 19,733 24,183 43,916 44,839 39,773 84,612
HIGH TECHNOLOGY INDEX 87 86 173 147 103 250 787 1,129 1,916 2,858 2,521 5,379
U.S. DOLLAR INDEX 1,512 1,609 3,121 973 1,327 2,300 25,085 21,023 46,108 16,272 14,310 30,582
CRB FUTURES PRICE INDEX 416 410 826 280 404 684 2,580 2,729 5,309 2,041 2,419 4,460
Total NYCE/NYFE 71,782 64,288 136,070 76,430 48,878 125,308 709,306 593,412

1,302,718

693,093 456,034 1,149,127
Coffee, Sugar & Cocoa Exchange (CSCE)
BUTTER 0 0 0 5 100 105 0 0 0 25 0 25
NONFAT DRY MILK 4 8 12 0 1 1 22 16 38 0 3 3
MILK 93 67 160 46 88 134 569 270 839 135 397 532
BFP MILK 0 0 0 221 192 413 0 0 0 607 610 1,217
CHEDDAR CHEESE 0 0 0 1 0 1 1 0 1 4 0 4
COCOA 19,529 10,527 30,056 25,125 12,697 37,822 217,904 114,462 332,366 245,410 119,656 365,066
SUGAR NO. 11 58,449 39,066 97,515 78,598 50,807 129,405 624,619 447,845 1,072,464 749,301 478,386 1,227,687
COFFEE C 30,530 16,426 46,956 28,977 30,853 59,830 526,298 322,756 849,054 661,723 564,683 1,226,406
Total CSCE 108,605 66,094 174,699 132,973 94,738 227,711 1,369,413 885,349 2,254,762 1,657,205 1,163,735 2,820,940
Chicago Mercantile Exchange (CME)/International Monetary Market (IMM)
BONELESS BEEF TRIMMINGS (50%) 0 0 0 141 156 297 0 0 0 257 323 580
BONELESS BEEF (90%) 0 0 0 16 12 28 0 0 0 61 33 94
LIVE HOGS 7,872 11,950 19,822 4,311 6,848 11,159 83,142 97,210 180,352 13,251 9,107 22,358
LEAN HOGS 412 964 1,376 6,834 10,525 17,359 2,669 4,004 6,673 84,270 103,674 187,944
FROZEN PORK BELLIES 1,601 2,945 4,546 1,333 1,518 2,851 21,109 29,402 50,511 19,580 12,600 32,180
LIVE CATTLE 18,579 23,833 42,412 25,989 26,950 52,939 230,484 261,066 491,550 288,410 271,881 560,291
FEEDER CATTLE 7,336 6,782 14,118 4,540 9,633 14,173 88,681 78,348 167,029 66,308 90,639 156,947
BUTTER 3 12 15 48 15 63 5 14 19 297 119 416
MILK 25 31 56 86 69 155 130 117 247 635 623 1,258
CANADIAN DOLLAR 10,034 7,113 17,147 16,191 7,270 23,461 123,748 95,502 219,250 162,781 96,461 259,242
FRENCH FRANC 153 313 466 329 264 593 1,506 3,073 4,579 1,275 1,215 2,490
SWISS FRANC 23,237 22,235 45,472 28,348 24,337 52,685 342,494 321,226 663,720 344,091 373,181 717,272
DEUTSCHE MARK 59,344 60,071 119,415 55,721 55,857 111,578 869,337 944,799 1,814,136 737,101 851,002 1,588,103
MEXICAN PESO 360 373 733 7,496 5,368 12,864 1,586 1,742 3,328 87,353 51,923 139,276
BRITISH POUND STERLING 73,364 78,078 151,442 40,760 38,115 78,875 1,523,100 1,753,505 3,276,605 568,906 534,800 1,103,706
JAPANESE YEN 57,989 49,510 107,499 55,879 51,664 107,543 936,716 784,380 1,721,096 803,300 733,934 1,537,234
BRAZILIAN REAL 238 17,766 18,004 104 18,924 19,028 255 67,488 67,743 104 77,688 77,792
NEW ZEALAND DOLLAR 0 0 0 12 1 13 0 0 0 23 1 24
AUSTRALIAN DOLLAR 222 413 635 364 1,628 1,992 2,505 2,828 533 4,807 19,737 24,544
AMEX MAJOR MARKET INDEX 20 116 136 0 40 40 240 478 718 7 20 27
E-MINI S&P 500 STOCK INDEX 0 0 0 499 369 868 0 0 0 1,119 877 1,996
S&P 500 BARRA GROWTH INDEX 304 487 791 59 132 191 850 2,080 2,930 210 660 870
S&P 500 BARRA VALUE INDEX 638 328 966 247 351 598 1,950 2,170 4,120 241 1,110 1,351
S&P 500 STOCK INDEX 99,332 177,723 277,055 77,651 147,744 225,395 1,970,865 2,856,511 4,827,376 2,057,987 2,471,331 4,529,318
S&P 400 MIDCAP STOCK INDEX 92 148 240 38 242 280 1,392 771 2,163 1,251 2,316 3,567
NASDAQ 100 STOCK INDEX 763 2,368 3,131 602 12,099 12,701 3,873 13,600 17,473 12,660 73,521 86,181
RUSSELL 2000 STOCK INDEX FUTURE 21 42 63 81 160 241 443 804 1,247 1,960 2,042 4,002
NIKKEI STOCK AVERAGE 722 107 829 360 176 536 6,272 1,856 8,128 3,251 2,672 5,923
DOW JONES TAIWAN STOCK INDEX 0 0 0 53 30 83 0 0 0 106 30 136
BMV INDEX OF PRICES & QUOTES 50 25 75 0 0 0 50 25 75 0 0 0
13-WEEK U.S. TREASURY BILLS 88 43 131 0 0 0 57 114 171 0 0 0
1-MONTH LIBOR RATE 1,030 966 1,996 609 1,136 1,745 12,992 9,578 22,570 8,533 19,809 28,342
3-MONTH EURODOLLARS 978,624 1,076,686 2,055,310 1,226,913 1,342,424 2,569,337 10,464,919 10,668,794 21,133,713 12,025,595 15,290,281 27,315,876
MEXICO PAR BRADY BOND 140 0 140 0 0 0 130 0 130 0 0 0
28-DAY MEXICAN RATES (TIIE) 0 0 0 0 0 0 0 0 0 100 10 110
3-MONTH EUROYEN 0 0 0 453 8,682 9,135 0 0 0 765 19,363 20,128
Chicago Mercantile Exchange (CME)/International Monetary Market (IMM) - continued
BRAZILIAN C BRADY BOND 0 30 30 0 0 0 0 30 30 0 0 0
GOLDMAN-SACHS COMMODITY INDEX 850 596 1,446 76 53 129 5,111 5,112 10,223 1,714 1,302 3,016
RANDOM LENGTH LUMBER 493 394 887 659 563 1,222 3,275 2,346 5,621 13,678 11,291 24,969
RANDOM LENGTH LUMBER-NEW 696 431 1,127 0 0 0 10,998 6,662 17,660 0 0 0
ORIENTED STRAND BOARD PANELS 0 0 0 62 55 117 0 0 0 241 178 419
Total CME / IMM 1,344,632 1,542,879 2,887,511 1,556,864 1,773,410 3,330,274 16,710,884 18,015,635 34,721,719 17,312,228 21,125,754 38,437,982
Total Options 3,268,286 2,904,258 6,172,544 3,631,491 3,145,432 6,776,923 53,313,331 47,007,11

100,320,446

54,411,192 50,730,762 105,141,954
Total Futures 6,671,956 7,045,937 394,182,422 417,341,601
Grand Total Futures and Options 12,844,500 13,822,860 494,502,868 522,483,555

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