K.C.B.T., M.G.E. migrate electronic trading to Globex
January 17, 2008
by Ron Sterk
KANSAS CITY — Electronically traded products of the Kansas City Board of Trade and Minneapolis Grain Exchange were migrated to the CME Globex trading platform on Jan. 13.
Electronic trading hours changed with the migration to the CME Globex platform. K.C.B.T. hard red winter wheat futures and options and M.G.E.X. hard red spring wheat futures and options trade electronically from 6:00 p.m. to 6:00 a.m. Central time. Wheat futures on both exchanges trade electronically and by open outcry from 9:30 a.m. to 1:15 p.m., while wheat options trade only by open outcry during that timeframe.
The five M.G.E.X. financially settled index futures and options contracts trade continuously from 6:00 p.m. to 1:45 p.m. Central time. The K.C.B.T. Value Line Stock Index futures trade electronically from 5:00 p.m. to 3:15 p.m.
"The Kansas City Board of Trade is pleased that all U.S. grains contracts will continue to trade on the same electronic system for the convenience of our members and market users," said Jeff Borchardt, president and chief executive officer of the K.C.B.T.
"The M.G.E.X. is excited to have our products on the CME Globex platform," said Mark Bagan, president and c.e.o. of the M.G.E.X. "We also look forward to the expanded functionality that will be forthcoming with migration to this platform."
The CME Globex is the world’s leading trading platform offering more asset classes than any other electronic system. More than 5.3 million contracts per day traded on the system in 2007. The CME Group is a CME/Chicago Board of Trade company.