The Chicago Board of Trade announced Tuesday that it is primed to list its Ethanol futures contract during daytime trading hours beginning May 31.
The contract will be available to trade on the exchange’s electronic platform, and by open auction, from 9:30 a.m. to 1:15 p.m. (CST). The contract will resume daily trading electronically from 6:36 p.m. to 6:00 a.m. (CST).
The CBOT collaborated with ethanol producers and refiners to design that would provide an efficient vehicle for both price discovery and the management of price volatility within domestic ethanol markets.
“Given the recent increases in corn-based Ethanol production and attention it is receiving in the market, it is critical to list this contract electronically during daytime trading to expand the contract’s availability,” says CBOT CEO Bernard W. Dan. “The global distribution and speed of our e-CBOT platform will provide market participants with real-time bids and offers, creating more value and opportunity.”