Chicago Board of Trade Law and Legal Definition

The Chicago Board of Trade (CBOT), established in 1848, is one of the major commodities exchanges in the U.S. with the largest trading floor in the world. The CBOT originally traded only agricultural commodities such as wheat, corn and soybeans. Now, the CBOT offers options and futures contracts on a wide range of products including gold, silver, U.S. Treasury bonds and energy.