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TeachMeFinance.com - explain Chicago Board of Trade historic definition... Chicago Board of Trade -- The exchange in Chicago where dealings in grain, provisions, etc., are conducted on an extensive scale. The official title of the Chicago Board of Trade is "Board of Trade of the City of Chicago." The board was formed as a voluntary organization in 1848; in 1850 it was incorporated under the general incorporation law of the state of Illinois and in 1859 a special charter was granted to it by the legislature of Illinois. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.