Minneapolis Grain Exchange To Trade NCI By Open Outcry

The Minneapolis Grain Exchange (MGEX) announced that on Friday, November 4, the National Corn Index (NCI) will be available for trade by open outcry on the MGEX trading floor. NCI futures are currently traded electronically from 6:30 p.m. to 1:45 p.m. and beginning November 4 will also trade from 9:20 a.m. to 1:30 p.m. by open outcry. NCI options are currently traded electronically from 6:32 p.m. to 1:45 p.m. and will also be available for trade by open outcry from 9:20 a.m. to 1:30 p.m.

Carter K. Ohrt, an MGEX Board Member representing the Floor Traders, stated, “The addition of trading NCI by open outcry will allow our current floor brokers and traders the opportunity to actively trade the market. The floor community appreciates the support of the MGEX Board and staff as we attempt to bring additional liquidity to this contract.”

“The Exchange continues to provide the marketplace with alternatives while broadening the avenues for trading the NCI contract. The contract will be fungible whether traded in the open outcry session or the electronic session,” added Mark G. Bagan, President and CEO of the MGEX. “NCI futures and options have seen increased trading activity over the last few months and by giving customers the choice, the contract should see increased liquidity.”