Winnipeg's commodity exchange for canola, wheat and barley plans to stretch its trading day by 45 minutes starting Monday.
As of June 25, the close of trading and settlement time on all futures and options products at ICE Futures Canada will be 2 p.m. CT.
The closing time until now has been 1:15 p.m. CT, and the settlement window for futures contracts ran from 1:14 p.m. to 1:15 p.m. The settlement window will now be 1:59 p.m. to 2 p.m.
The Winnipeg exchange said it's making the move to line up its close of trading and settlement time with those for grains and oilseeds futures and options contracts traded on other North American futures exchanges.
The change affects ICE Futures Canada's products for canola, barley, durum, milling wheat and western barley.
The opening time for all those markets will remain the same. The first extended day of trading thus begins Sunday, June 24, at 7 p.m., and ends at 2 p.m. on Monday, June 25.
Analysts have said the recent moves to expand trading hours tell the tale of the commodity exchanges' need for increased trading volumes.
Related story:
U.S. grain exchanges move to 21-hour trading,
May 22, 2012
