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Board of Trade - Chicago
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Board of Trade. The history of modern futures trading began in the early 1800s and was tied closely to the development of commerce in Chicago and grain trade in the Midwest. Chicago's strategic location at the base of the Great Lakes, close to the fertile farmlands of the Midwest, contributed to the city's rapid growth and development as a grain terminal. As grain trade expanded, problems of supply and demand, transportation, and storage led to a chaotic marketing situation. In order to stabilize the situation, a centralized marketplace-the Chicago Board of Trade (CBOT)-was formed in 1848 by 82 merchants. The purpose was to promote commerce in the city by providing a place where buyers and sellers could meet to exchange commodities.
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Board of Trade - Chicago can be found in the following categories:
Landmark Location: USA: Chicago
Special Landmarks: Historical Landmarks
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