November 6, 2007

CME Group extends CBOT trading hours for electronic mini grains

CME Group Inc. (CME) said Monday (November 6, 2007) it was extending electronic trading hours for Chicago Board of Trade mini-sized corn, soy and wheat futures contracts beginning Friday.

The mini-sized agricultural contracts will trade electronically side-by-side with the grain and oilseed products already available in open-outcry trading, CME said in a news release. The change is expected to "maximize access for global customers and increase opportunities for both electronic and floor trading," according to the release.

Mini-sized corn, soy and wheat contracts will trade electronically from 7:30 p.m. to 7 a.m. EST and from 10:30 a.m. to 2:45 p.m. EST Sunday to Friday. Electronic market makers will be added from 7:30 a.m. to 7 p.m. to enhance liquidity during the Asian and European daytime trading hours, the CME said.

The CBOT launched mini-sized corn, soy and wheat futures for floor trading in April 2003, and they became available for electronic overnight trading in May 2007. The mini-sized futures will trade on e-cbot, the CBOT's electronic trading platform, and then migrate to the CME Globex platform in January.

CME Group bought the CBOT earlier this year.

Mini-sized corn, soy and wheat futures are each 1,000 bushels per contract and are fungible with their standard-size grains counterparts, which are 5,000 bushels per contract. The mini-sized contracts are settled using the full-size contract settlement price.