CHICAGO, Feb. 10, 2016 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, today
announced it will take a number of steps designed to further
enhance its livestock markets.
- Reduction of CME livestock trading hours: based on
customer requests, CME livestock futures and options trading hours
will be reduced to align with the period of greatest liquidity in
these markets. During 2015, roughly 87 percent of daily livestock
futures and options trades occurred during the proposed hours.
Effective Monday, February 29, and
pending CFTC approval, the proposed trading hours for Live Cattle,
Feeder Cattle and Lean Hog futures and options will be as
follows:
- CME Globex futures and options – 8:30 a.m. to 1:05 p.m. CT Monday to Friday
- Open outcry options – 8:30 a.m. to 1:02 p.m. CT Monday to Friday
The daily settlement period and procedures for CME livestock
contracts will remain unchanged.
- Review of Worthing, South
Dakota delivery point for Live Cattle: CME Group will
conduct a public review with cattle customers to study if a
discount is warranted at its Worthing delivery point for Live Cattle
futures. The review will take place during the month of February
and potential changes will be announced during Q1 of 2016.
- Formation of a cattle market joint working group: CME
Group will form a working group with the National Cattlemen's Beef
Association to discuss other possible enhancements to its cattle
markets, including, but not limited to, circuit breakers and other
measures to further heighten market quality.
"Nothing is more important to us than the integrity of our
markets, which help farmers and ranchers to discover prices and
transfer risk," said Tim Andriesen,
CME Group Managing Director of Agricultural Products. "We believe
these actions will further enhance our cattle markets for all
participants."
In addition to the measures described above, CME Group recently
added livestock products to its messaging efficiency program on
Monday, February 1.
For more information on the above modifications to CME livestock
futures and options markets or to provide your feedback to other
measures visit www.cmegroup.com/livestock updates.
Live Cattle, Feeder Cattle and Lean Hog futures and options
contracts are all listed with an subject to the rules and
regulations of CME.
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) is where the world comes to manage
risk. CME Group exchanges offer the widest range of global
benchmark products across all major asset classes, including
futures and options based on interest rates, equity indexes,
foreign exchange, energy, agricultural commodities, metals, weather
and real estate. CME Group brings buyers and sellers together
through its CME Globex® electronic trading platform, its trading
facilities in New York and
Chicago, and through its
London-based CME Europe
derivatives exchange. CME Group also operates one of the world's
leading central counterparty clearing providers through CME
Clearing and CME Clearing Europe, which offer clearing and
settlement services across asset classes for exchange-traded
contracts and over-the-counter derivatives transactions. These
products and services ensure that businesses everywhere can
substantially mitigate counterparty credit risk.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME,
Globex and Chicago Mercantile Exchange are trademarks of Chicago
Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the
Board of Trade of the City of
Chicago, Inc. NYMEX, New York Mercantile Exchange and
ClearPort are registered trademarks of New York Mercantile
Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc.
KCBOT, KCBT and Kansas City Board
of Trade are trademarks of The Board of Trade of Kansas City, Missouri, Inc. All other
trademarks are the property of their respective owners. Further
information about CME Group (NASDAQ: CME) and its products can be
found at www.cmegroup.com.
CME-G
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SOURCE CME Group