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SUMMARY:
Today, at 9:30 a.m. Chicago time, the e-cbot trading host moved all products to a closed state due to a software issue relating to the opening uncrossing algorithm for agricultural products. At that time, all day orders in the system were automatically canceled. During the closed state, open auction products remained open.
While implied pricing was not the cause of the software issue, it was disabled to eliminate the possible reoccurrence of the condition that caused the system to move to a closed state. e-cbot markets reopened at 12:00 p.m. Chicago time with implied pricing disabled for the following products:
Corn
Ethanol
Soybeans
Soybean Meal
Soybean Oil
South American Soybeans
Wheat
Rice
Oats
Implied pricing for these products will remain disabled for the next trading day, beginning Sunday night, August 6 (trade date August 7). The CBOT expects to have implied pricing enabled for Monday night, August 7 (trade date August 8).
The CBOT will provide final confirmation on Monday, August 7.
The CBOT wishes to thank all of its e-cbot users for their cooperation and patience during today’s events, and we are confident that we have taken the appropriate corrective measures to prevent a reoccurrence.
If you have any questions about this Bulletin, please your Key Account Manager.
