What’s Up, What’s Down: Spotlight on Softs
Comments for October 27, 2011
Looking ahead to Thursday by reflecting back on Wednesday’s Trading
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors
Temporary Change to Opening Times for Sugar No. 11, Coffee “C” and Cocoa Futures and Options Contracts and to Daily Settlement Window for Cocoa Contracts
Effective with the start of trading for trade date Monday, October 31, 2011, and through and including trade date Friday, November 4, 2011, the Exchange is implementing a temporary change to the opening time for electronic trading of the Sugar No. 11, Coffee “C” and Cocoa contracts. During this period Sugar No. 11 and Coffee “C” contracts will open for trading at 4:30 am NY time instead of the normal 3:30 time, and Cocoa contracts will open for trading at 5:00 am NY time instead of the normal 4:00 time.
This temporary change to the opening time for these products is due to the impact of different dates for the end of U. S. Daylight Savings Time and of British Summer Time. At the end of this period, opening times for these products will revert to the normal time for each product. In addition, for this same period (October 31 to November 4, 2011), the Exchange is also implementing a temporary change to the daily settlement window for the Cocoa futures and options contracts. For this week only, the daily settlement window for cocoa will be from 12:48 to 12:50 pm; at the end of this week, the window will revert to the normal 11:48 to 11:50 am time. Due to this temporary change to the Cocoa settlement window, during this week Trade At Settlement (or “TAS”) trading for cocoa will end at 12:50 pm each day instead of the normal 11:50 am time.
Other trading times for these products, including the Pre-Open time, Daily Settlement Windows (for all products other than Cocoa), floor trading hours for related options products, and the Daily Close of Trading, remain unchanged during this period as expressed in NY local times. Traders outside the US should be aware that DST in the US ends on November 6, and that this will impact their local time corresponding to the New York Pre-Open, Daily Settlement Window, options floor hours and Daily Close of Trading times.
Trading hours for all other products, including Stock Index and Currency products, also remain unchanged during this period, as expressed in NY local times.
Trading in futures and options is speculative in nature and involves substantial risk of loss. All known news and events have already been factored into the price of the underlying commodities discussed.
Follow my softs commentary daily at the Softs Futures Update blog; https://softsfuturesupdate.com
Rick Alexander has been a broker and analyst in the futures business for over thirty years. He is a Vice-President for Sales and Trading at the Zaner Group (www.zaner.com) a Chicago-based futures brokerage firm. Email Rick at firstname.lastname@example.org or call toll-free (888) 281-4158.
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors. The information in this Report and the opinions expressed are subject to change without notice. All known news and events have already been factored into the price of the underlying commodities discussed.