CHICAGO Jan 29 CME Group said on
Tuesday it will reduce the nearly non-stop trading cycle for its
U.S. grain and oilseed markets after a backlash against longer
hours that were implemented less than a year ago.
CME, which owns the Chicago Board of Trade, said it had not
yet determined what the new hours will be.
The exchange operator increased electronic trading hours to
21 hours a day from 17 hours a day in May to fend off
competition from rival IntercontinentalExchange.
CME launched a survey last week asking customers whether
trading hours should be reduced. It decided to reduce hours
before the survey period ends on Thursday.
The shorter hours will need approval from the Commodity
Futures Trading Commission.