CBOT Launches South American Soybean Side-By-Side Trading Monday
Chicago Board of Trade is also extending the trading hours in SAB by 30 minutes.
Compiled by staff
Published: May 12, 2006
The Chicago Board of Trade announced it is set to begin the listing of Agricultural futures electronically during daytime hours, beginning with South American Soybean futures on Monday, May 15.
CBOT is also extending the trading hours in the product by 30 minutes, with the electronic and open auction market for SAB futures opening a half hour earlier at 9:00 a.m. (Chicago Time) beginning on May 15.
The CBOT will have an electronic market maker for the May 15th opening. The electronic market maker will be instrumental in creating a competitive, two-sided market and dedicated to providing constant bids and offers on the SAB contract.
The CBOT launched its SAB contract as a means to provide a reliable and effective tool to meet the growing risk management needs of South American producers and international consumers of soybeans. South America supplies more than 50% of the world's soybeans. With delivery points in the ports of Paranagua and Santos, Brazil, the contract is the CBOT's first product with delivery outside the U.S. The contract, which was originally listed in the open auction environment in May 2005, has had successful deliveries in each of the past contract months.
As previously announced, the CBOT plans to list its Ethanol futures contract electronically side-by-side beginning on May 31, 2006. The CBOT intends to offer the remainder of its Agricultural futures contracts, including Corn, Soybean, Soybean Oil, Soybean Meal, Rough Rice, Wheat and Oat futures, on its electronic trading platform during daytime trading hours beginning August 1, 2006.
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