Chicago Board of Trade

The Chicago Board of Trade (CBOT) is a historic financial exchange located in Chicago, where traders buy and sell contracts related to commodities like grains, coffee, and metals, as well as financial products. Established in 1848, it plays a key role in the global economy by helping businesses manage price risks associated with fluctuating commodity prices. Traders can secure future prices, allowing them to stabilize costs and profits. CBOT also functions as a marketplace for speculators, who aim to profit from price movements. In 2007, it became part of the CME Group, which is one of the largest derivatives exchanges in the world.