Bloomberg News

U.S. Grain Groups Ask CFTC for Delay in Expanded Trading Hours

May 10, 2012

The two largest U.S. grain-trading associations asked the Commodity Futures Trading Commission to delay the start of expanded trading hours for grain contracts at the CME Group Inc. and the IntercontinentalExchange Inc. (ICE:US)

The National Grain and Feed Association and the North American Export Grain Association said in a joint statement that the two exchanges provided “inadequate advance consideration” of their plan to expand trading to 22 hours a day, compared with 17 hours now.

The impact of the longer trading day on market participants justifies intervention by U.S. regulators in delaying the change and imposing a 30-day public comment period to “provide time to assess” the issues, the groups said.

To contact the reporter on this story: Jeff Wilson in Chicago at Jwilson29@bloomberg.net

To contact the editor responsible for this story: Steve Stroth at sstroth@bloomberg.net


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Companies Mentioned

  • ICE
    (Intercontinental Exchange Inc)
    • $196.07 USD
    • 0.68
    • 0.35%
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