Chicago Board of Trade (CBOT)

Definition:

The second largest futures exchange in the US, and a pioneer in the development of financial futures and options. CBOT merged with Chicago Mercantile Exchange (CME) in July 2007 and is now operated as a unit of the CME group.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Deficiency Agreement

An agreement that calls on the sponsor or another party to provide the shortfall when cash flow, working capital, or revenues are below agreed levels or are insufficient to meet debt service.

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