WINNIPEG, Manitoba, March 18 ICE Futures Canada,
a division of IntercontinentalExchange Inc, said on
Monday that it will close earlier starting April 8 for all grain
and oilseed futures and options products, reversing an extension
made to the closing time in June.
ICE Canada, an electronic exchange based in Winnipeg, will
move up the closing time to 1:15 p.m. Central time (1815 GMT)
from the current 2 p.m. Central time close for canola, milling
wheat, durum and barley trading.
"A lot of these extended hours have just proven to be
nothing, just stretching the trade out but not accomplishing
anything," said PI Financial futures and options broker Ken
Ball. "It's good to see that they (changed back)."
The move will match a change in closing time at CME Group
Inc. Many ICE Futures Canada traders also trade on CME's
Chicago Board of Trade.
ICE said there was no change to U.S. trading hours.
The ICE Canada exchange offers the world's most actively
traded canola futures and options , while its wheat,
durum and barley contracts are seldom traded.
ICE Futures Canada is not changing the opening time for
trading, which remains 7 p.m. CDT.