KCBT Adds Afternoon Pre-Open Session For Wheat Futures

Beginning the afternoon of Monday, August 29, 2005, the exchange will offer an afternoon pre-open session from 2:30 p.m. to 3:55 p.m. for wheat futures contract orders to be entered on the Electronic Trading System. This afternoon pre-open session is in addition to the regular wheat futures pre-opening session that begins at 6:30 p.m.

As the volume and participation in overnight wheat futures has steadily increased, members have expressed the need for additional time and flexibility in placing orders for execution on the Electronic Trading System after the market close of the regular "open outcry" trading session. In that regard, an afternoon pre-opening session was added to provide additional time as well as the ability to enter orders during normal office hours.

During the regular 6:30 p.m. pre-open, market participants can cancel or modify existing orders and enter new orders. During this afternoon pre-open for wheat futures contracts, orders must be entered as Good-for-Day entered with the next trading date or Good-til-Cancelled, otherwise orders will be cancelled when the product is moved to a Closed state at 3:55 p.m. Please consult with your Independent Software Vendor (ISV) regarding their implementation of this functionality.

Quote Vendors will not distribute bid/offer prices from this earlier Pre-Open period.