The Chicago Board of Trade will launch smaller-sized ag futures on its electronic platform, CBOT announced Thursday.
The new contracts options will include mini-sized corn, soybeans and wheat contracts. The smaller contracts will be 1/5 the size of full-sized contracts, or 1,000 bushels.
CBOT says the new contract options are scheduled to launch mid-second quarter 2007. The contracts will trade on CBOT's electronic trading platform, e-cbot, on the overnight hours beginning at 6:30 p.m. to 6:00 a.m., Sunday through Friday, and will continue to trade in the open auction market from 9:30 a.m. to 1:45 p.m.
One advantage of the smaller sized contracts is to allow global customers to participate more easily.
"By launching our mini-grains electronically, the CBOT is once again providing our customers choice, and the opportunity to access our markets globally, in a size customary to their trading and time zones and in a more competitive environment," says CBOT Senior Vice President of Business Development, Robert D. Ray.
See www.cbot.com/cbot/pub/cont_detail/0,3206,1036+40023,00.html for more information.