Reuters: Regulatory News: UPDATE 1-CME Group to modify grains settlements on June 25

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UPDATE 1-CME Group to modify grains settlements on June 25 May 25th 2012, 15:10 Tweet Share this Email Print Related Topics Stocks » Regulatory News » Markets » Financials » Fri May 25, 2012 11:10am EDT CHICAGO, May 25 (Reuters) - CME Group will change the methodology for determining end-of-day settlement prices for its grain and oilseed futures starting June 25, pending U.S. regulatory approval, the parent of the Chicago Board of Trade said on Friday. CME said the new procedure for settling CBOT corn, wheat, oats, rough rice, soybeans, soybean meal and soybean oil futures would include activity from both the open-outcry and electronic trading pits. The bulk of trade in CBOT grains is already done electronically, but settlement prices for corn, soybeans, soymeal and soyoil are currently set in the open-outcry pits. Those opposed to incorporating electronic trading into the settlements see the change as a threat to the livelihood of floor traders. CME Group initially planned a springtime transition to the new settlements for both grains and livestock futures. That plan met with strong opposition from floor traders when it was announced in December. In March, the exchange delayed changes to grain settlements until June and said it had not finalized its plans for livestock futures. Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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