The Chicago Board of Trade (CBOT) is hoping to tighten its relationship with Dow Jones Indexes by working to secure the US licence to launch a contract based on the index providers' successful Trac-x credit default swap index.

The CBOT already lists a series of equity-based contracts linked to Dow Jones indices, and is to launch another two contracts early next month. Eurex, the CBOT's Swiss-German rival hoping to debut a US exchange early next month, also has close ties with Dow Jones through its successful suite of DJ EuroStoxx contracts.