The Chicago Board of Trade (CBOT) is one of the oldest futures and options exchanges in the world, established in 1848. It primarily facilitates the trading of agricultural commodities like corn, soybeans, and wheat, as well as financial instruments such as U.S. Treasury bonds. The CBOT plays a crucial role in price discovery and risk management for these markets. In 2007, the CBOT merged with the Chicago Mercantile Exchange (CME) to form the CME Group, which is now the largest derivatives marketplace globally. The exchange operates both a physical trading floor and an electronic trading platform, allowing for efficient transactions and access to a wide range of financial products.