Open outcry trade in hard red winter wheat futures and options at the Kansas City Board of Trade will come to an end Friday, June 28.
According to a statement from the exchange’s parent company the CME Group, the move is to increase efficiency and trading opportunities for both hard red and soft red winter wheat. Pit trade will move to the Chicago Board of Trade floor and CME Group will operate an electronic system on the former Kansas City floor until the end of September. Hard red winter futures will still be listed under and subject to KCBT rules.
Also, starting April 15, KCBT clearing services will be integrated into CME Clearing.
All changes are subject to approval by the Commodity Futures Trading Commission.