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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)
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.
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