CME backs down on extended commodity hours
2012-05-21
The world's largest futures exchange, CME of the US, has decided not to expand its grain trading times.
A proposal had been put forward for the expanded trading in grains to 21 hours a day. At the moment trading lasts for 17 hours a day.
Plans for the extension had drawn complaints from traders and the National Grain Feed Association and the North American Export Grain Association.
The two largest US grain-handling organizations had objected, citing concerns over the markets being open at the time of release of US Department of Agriculture reports.
The reports are currently published when the markets are closed.
Both organisations said expanded hours would also increase volatility.
Source: United States News.Net
- 384 reads
Human Rights
Visited:19,439,017
