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The New York Board of Trade (NYBOT) announced that an electronic pre-open facility on the ICE trading platform will be available daily, beginning at 8:00 p.m. ET until 1:30 a.m. ET. Market participants will be able to enter bids and offers on outright positions beginning at 8:00 p.m. on Monday, February 19 for the trade date Tuesday, February 20 in all markets except FCOJ. IntercontinentalExchange (NYSE: ICE) announced last week that beginning February 20, electronic trading hours for NYBOT’s benchmark soft commodities listed on ICE’s electronic trading platform will be extended to operate from 1:30 a.m. ET through 3:15 p.m. ET each business day.
Orders entered during the pre-open will not be available for execution until the electronic market session opens at 1:30 a.m. ET. Orders will be executed on a first-in first-out (FIFO) basis upon the market open. The electronic order book will show all bids and offers posted during the pre-open. The pre-market session will not operate over the weekend, except for opening Sunday night prior to the Monday trading session.
Yesterday, February 13, NYBOT electronic contract volume set a new record of 86,115 contracts, accounting for 34% of the aggregate volume in cocoa, coffee, cotton, orange juice and sugar futures contracts. Volume surpassed two previous electronic volume records established this week. In addition, NYBOT established an exchange-wide volume record on Monday of 382,188 contracts.
ICE, the leading electronic energy marketplace and its regulated subsidiary, NYBOT, the leading soft commodities exchange introduced side-by-side trading for the NYBOT physical soft commodity contracts on Friday, February 2.
