CME Group Inc. (CME) has not yet officially notified the Commodity Futures Trading Commission of its plan to expand its grain futures trading hours, and will be unable to enact the new hours on May 14 as the exchange had announced this week, a CFTC spokesman said.

The exchange must submit a "self-certification" form disclosing its plans to the CFTC, the spokesman said. Once it does that, the change in hours can't take effect for 10 business days, he said.

CME on Tuesday announced its plan to expand to a 22-hour trading day electronically, an increase from the current 17 hours. The exchange said it would begin the new schedule May 14, with trading actually beginning the evening of May 13.

"That's just not going to happen," the CFTC spokesman said.

-By Ian Berry, Dow Jones Newswires; 312-750-4072; ian.berry@dowjones.com

(END) Dow Jones Newswires

May 03, 2012 11:35 ET (15:35 GMT)