Date:                                         November 8, 2007

Recipients:                                Members and Independent Software Vendors

Authorized by:                           Jeffrey S. Hersh

Title:                                          REMINDER: CME Group Extends Global Trading Hours

                                                   For Electronic mini-sized Grains; ‘Restricted Open’ Market

                                                   State

 

 

Action Date:                              November 8, 2007 (trade date November 9)

 

Document Recommended for: Developers, Key Contacts

Related Bulletins:                     Bulletin #83 of 2007

Attachment:                               n/a

SUMMARY:

 

This Bulletin is a reminder that the CME Group, the world’s largest and most diverse exchange, announced the extension of its electronic trading hours for mini-sized Corn, Soybean and Wheat futures contracts beginning November 9. 

 

Please refer to the chart below which details the times that these mini-sized grain products will cycle into the various market states.

 

	Pre	Open 1	Restricted	Pre	Open 2	Closed	Pre	Closed
	Open		Open	Open 2			Open 3
Mini-sized Corn	5:30 PM	6:30 PM	6:00 AM	6:30 AM	9:30 AM	1:45 PM	2:30 PM	3:55 PM
Mini-sized Soybeans	5:30 PM	6:31 PM	6:00 AM	6:30 AM	9:30 AM	1:45 PM	2:30 PM	3:55 PM
Mini-sized Wheat	5:30 PM	6:32 PM	6:00 AM	6:30 AM	9:30 AM	1:45 PM	2:30 PM	3:55 PM

 

 

Please note that e-cbot will utilize the Restricted Open market state during the timeframe of 6:00 a.m. through 6:30 a.m.  This is the same market state which is currently utilized for the full size Agricultural futures products.  ‘DAY’ orders will not be canceled at 6:00 a.m.; they will continue to be active during the side by side trading session until the products close at 1:45 p.m. 

 

Restricted Open Market State

The Restricted Open Market State allows for an automated suspension of markets to occur without the cancellation of any orders and the return to a Pre-Open Market State prior to a second market opening. The Restricted Open state is configured on a per product basis and occurs automatically at the pre-defined times set in the trading host.

 

During Restricted Open, while all trading for Agricultural products is suspended, resting orders are permitted to remain in the order book.    

 

The following actions are allowed during Restricted Open state:

• Log-on and Log-off
• Revision of order volume – downwards only
• Cancelling orders
• Creation of new strategies
• Handover of orders

 

The following actions are not allowed during Restricted Open state:

• No submission of new orders
• No revision to order price
• Revision of order volume upwards  

If you have any questions about this Bulletin, please contact your Key Account Manager.