CBOT Holdings Inc., the holding company for the Chicago Board of Trade, announced that its net income for the second quarter more than doubled, hitting a record US$43.5 million versus US$18.2 million for the comparable period last year.

Revenue for the second quarter increased 31% to US$158.5 million compared with US$120.6 million in the second quarter of 2005. The exchange says its results were fueled by record quarterly trading volumes across all product categories as well as higher exchange fee rates overall and continued cost controls.

Exchange and clearing revenue for the second quarter was US$117.2 million, up 27% from the second quarter of 2005. In addition, market data revenue grew 44%, primarily due to a price increase. Second quarter operating income was US$72.8 million, up from US$33.7 million in the same period last year.

“This was a solid quarter for the CBOT, as we continued to realize volume growth across each of our product categories, advance our strategic initiatives aimed at creating new opportunities for our customers and extend our reach globally,” said Bernard Dan, president and CEO of CBOT Holdings. “Furthermore, our second quarter record financial results underscore the effectiveness of our business model as we significantly improved our profitability by scaling our operating platform and stringently controlling fixed costs.

“Moving forward, we will remain focused on identifying growth opportunities and intensifying our efforts to provide products and services that meet the needs of market participants globally,” said Dan.

Trading volume for the second quarter was 208.0 million contracts, up 13% compared with 184.9 million contracts traded during last year’s second quarter. Average daily volume in the second quarter this year was 3.3 million contracts, up 14%. And, ADV on the CBOT’s electronic trading platform rose to 67% of total exchange ADV, up from 64% in the second quarter of 2005.