CME Group today announced it was revising its expanded electronic trading hours for CBOT grain and oilseed futures and options in an effort to "help farmers, ranchers and commercial market participants prepare to transition to expanded electronic trading hours."
Pending certification from the Commodity Futures Trading Commission (CFTC), CME Group will offer expanded market access to a variety of CBOT futures and options 21 hours per day, beginning at 5:00 p.m. CT, and ending at 2:00 p.m. CT. Pending CFTC approval, new trading hours will begin no latter than Sunday, June 3, for the first trade date of Monday, June 4, 2012.
CME Group says these measures are in part the result of collaboration between CME Group, the National Grain and Feed Association (NGFA) and the North American Export Grain Association (NAEGA) to address these changes and help the grain industry prepare for the transition.
"We commend the CME Group for making this change before implementing its expanded electronic trading hours," Randall C. Gordon, acting president of the National Grain and Feed Association. "We look forward to continuing to discuss with the CME Group, other exchanges and other parties possible ways to address industry concerns about USDA reports being released during market hours."
CME Group says: Electronic trading hours for CBOT Corn, Mini-Sized Corn, Soybeans, Mini-Sized Soybeans, Wheat, Mini-Sized Wheat, Soybean Meal, Soybean Oil, Rough Rice, Oats, and Ethanol futures and options plus all related calendar spread options and inter-commodity spread options will be extended to:
- Sunday to Friday, 5:00 p.m. to 2:00 p.m. CT
Daily settlements will continue to be based on market activity at or around 1:15 p.m. CT each day. Additionally, open-outcry trading hours will continue to operate from 9:30 a.m. to 1:15 p.m. CT Monday to Friday.