Reuters: Regulatory News: UPDATE 1-CME delays start of expanded grain trading by one week

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UPDATE 1-CME delays start of expanded grain trading by one week May 3rd 2012, 17:32 Thu May 3, 2012 1:32pm EDT CHICAGO May 3 (Reuters) - CME Group said on Thursday it will delay an expansion of grain trading hours by one week, giving rival IntercontinentalExchange Inc a head start in implementing nearly around-the-clock trading. Trading hours for CME's contracts will increase starting on May 21, instead of on May 14, according to the exchange-operator. The delay is a quick change of plans for the CME, which announced the expansion in trading hours on Tuesday. The Commodity Futures Trading Commission said on Thursday that CME had not yet notified regulators of the change and could not implement the new hours as planned. Under the new hours, electronic trading is set to run continuously from 6 p.m. to 4 p.m. Central time the next day, Monday to Friday. The change applies to CBOT corn, soybean, wheat, soybean meal, soybean oil, oats, rough rice and ethanol contracts.

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