The Chicago Board of Trade (CBOT) has signed a memorandum of understanding (MOU) with Mercado a Termino de Buenos Aires (MATba), a leading commodity exchange in Argentina. This agreement was created to explore opportunities for extending the global reach of both exchanges.


The MOU signing complements the CBOT’s recent launch of South American Soybean futures, a new contract designed to serve as a risk management tool for producers and consumers of the product worldwide. The CBOT has focused key business initiatives on growth opportunities in South America, as global agricultural trends are shifting; Argentina is now the world’s largest soybean meal exporter, and more than half of the world’s soybeans are produced in South America.


CBOT president and CEO Bernard Dan says, “The CBOT is very pleased to sign its first MOU in South America with MATba, a leading commodity exchange with critical importance to the continent’s agricultural economy. The signing of this agreement follows the successful introduction of CBOT South American Soybean futures and represents the ability for the CBOT to further strengthen its ties to South America, which has become one of the world’s most important centers of agricultural production and trade. We believe that by working together, both exchanges can create a multitude of opportunities that would be beneficial to global customers of both marketplaces.”


MATba Chairman Ricardo Marra says, “We are very pleased with this agreement, since MATba and CBOT have similar interests in providing quality products to our customers. Also, both exchanges share, each one in its own market, a close relation with the agricultural community through commodities trading.”


Under the agreement, the CBOT and MATba will discuss the possibility of working on joint product development, marketing, and other potential synergies. The Exchanges share in common significant ties to the agricultural industry, with MATba listing contracts based on Argentina’s domestic markets for Corn, Wheat, and Soybean futures, products for which the CBOT serves as the global pricing benchmark.