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New trading hours for markets

On Tuesday, the CME Group announced proposed changes to its trading hours for grains and oilseed products. 

After a survey of 4,000 producers, commercial customers, traders and other industry participants, the Exchange has proposed to the CFTC that trading in CBOT grain and oilseed and KCBT markets be reduced from the current 21 hours, both on the floor and via its CME Globex electronic trading platform, for the Monday, April 8, 2013, trade date.

“Over the past several months, we have received significant customer feedback about the current CBOT grain trading hours,” said Tim Andriesen, Managing Director, Agricultural Commodities and Alternative Investments, CME Group in a press release Tuesday. “As a result, we engaged our customers more formally through one-on-one conversations, focus groups and an online survey, which attracted more than 4,000 responses, to determine what hours best meet their needs. While there were varying opinions about what the modifications to hours should be, we believe these changes balance the needs of our diverse global customers based on their feedback.”

Beginning April 8, electronic and floor trading hours for CBOT Corn, Soybeans, Wheat, Soybean Meal, Soybean Oil, Rough Rice, Oats, and KCBT Wheat futures and options, plus all related CBOT and KCBT calendar spread options and inter-commodity spread options, will be amended as follows:

 

·         Sunday to Friday, electronic trading from 7:00 p.m. to 7:45 a.m. CT

·         Monday to Friday, break in electronic trading from 7:45 a.m. to 8:30 a.m. CT

·         Monday to Friday, floor and CME Globex trading from 8:30 a.m. to 1:15 p.m. CT

 

Daily settlements for CME Globex and floor trading of these products will be based on market activity at or around 1:15 p.m. CT each day. Mini-Sized Corn, Mini-Sized Soybeans and Mini-Sized Wheat will continue to trade on CME Globex and on the floor until 1:45 p.m. CT.

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