Chicago Butter and Egg Board Law and Legal Definition

The Chicago Butter and Egg Board was a spin-off entity of the Chicago Board of Trade. It was founded in 1898. In the year 1919, it was re-organized as the Chicago Mercantile Exchange (CME). Initially, the Chicago Butter and Egg Board traded only two types of contracts, butter and eggs. Over several decades, it evolved into the Chicago Mercantile Exchange (CME or the "Merc") which now trades futures contracts and options contracts on over 50 products.