CME Group on Friday announced reductions to electronic trading hours for CME Livestock futures and options products beginning Oct. 27, 2014, pending CFTC review.
New electronic trading hours for CME Lean Hogs, Live Cattle and Feeder Cattle futures and options will be as follows on CME Globex:
• Monday – 9:05 a.m. to 4:00 p.m. CT
• Tuesday to Thursday – 8:00 a.m. to 4:00 p.m. CT
• Friday – 8:00 a.m. to 1:55 p.m. CT
Open-outcry trading hours for CME Livestock futures and options products will not be impacted by this adjustment to CME Globex trading hours, CME said.
According to CME, the changes were informed by input from producers, commercial customers, traders and other industry participants.
"Over the past several months, we have been engaging with a broad cross section of customers and industry participants, including a formal survey in August, and based on that feedback we have determined we should reduce electronic trading hours for our livestock products," said Tim Andriesen, managing director, Agricultural Commodities and Alternative Investments, CME Group.
"It is important that we provide products that meet the changing needs of our customers and the market. We believe this change will result in deeper and more liquid markets to serve their risk management needs," Andriesen said.