CME Group Announces Measures to Further Enhance Livestock Markets
- CME livestock trading hours to be reduced
- Customer review of Worthing delivery point to be studied
- Cattle working group to be formed
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.
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:
The daily settlement period and procedures for CME livestock contracts will remain unchanged.
"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.
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SOURCE CME Group