CBOT ELECTRONIC GRAINS TRADING FREQUENTLY ASKED QUESTIONS What are the new electronic trading hours for CBOT Grain, Oilseed and Ethanol products? Excepting holidays, trading will begin Sunday evening at 5 p.m. Central for Monday's trade date and will end at 2 p.m. Central Monday afternoon. From Monday to Thursday, there will be a daily trading halt from 2 p.m. to 5 p.m. Central. Open Outcry (pit) hours will not change and remain 9:30 a.m. to 1:15 p.m. Central. Expiring futures contracts will continue to close at 12 p.m. Central on the expiration day. The process for determining the daily settlement price remains unchanged. If I make a trade on CME Globex after open outcry trading session ends, at what price will the trade be marked to market? All trades made on CME Globex between the time the open outcry session ends and the CME Globex trading session ends will be marked to market using the settlement price determined at 1:15 p.m. Central. Transactions executed between the end of open outcry trading at 1:15 p.m. and the end of CME Globex trading at 2 p.m. are considered to be part of the current business day. Expiring options will continue to close and be settled after the settlement price for the underlying futures contract is determined at 1:15 p.m. Central. Automatic exercise will still be based on the 1:15 p.m. Central settlement price. Will this change the way the delivery process works? No. The delivery process will remain the same. However, on position day there will be more time to exit positions to avoid the possibility of delivery. With the extended trading hours, traders will have until 2 p.m. Central and will be able to see the settlement prices before liquidiating positions to avoid delivery. During what time period is the high and low established? The high and low for the day are established between the open at 5 p.m. Central and the end of CME Globex trading at 2 p.m. Central the following day.