CME Delaying Electronic NFDM Spot Call Launch until Monday, January 9, 2017
3 December 2016
HighGround received a phone call from the CME earlier today alerting us that the electronic NFDM spot call launch would be delayed until next month. During last week’s live production testing, a critical issue was discovered that could have jeopardized the integrity of the market. Therefore, the CME made a wise decision to delay launch to fix the programming issues.
Two things of note:
#1 – The CME will continue offering Mock Testing in their “New Release/Test” environment on Tuesdays and Thursdays at 2:00PM and 2:15PM CST over the next month to allow users and traders the opportunity to continue learning the ins and outs of the software. HighGround employees have learned a lot from taking advantage of these sessions and would encourage market participants to do the same.
#2 – The CME Dairy Spot Call hours will remain as they have in the past until the new launch date next month (hours shown below).
If HighGround customers or readers have any questions regarding the delayed launch, please contact us at firstname.lastname@example.org.
CME Group issued the following press release to the dairy industry earlier today:
Please note we are delaying the transition of the CME Dairy Spot Call to the electronic CME Direct Auction Platform from Monday, December 5, 2016 to a new start date of Monday, January 9, 2017. We are delaying the implementation to ensure a seamless transition for our customers beginning with Nonfat Dry Milk on January 9.
As a result, on Monday, December 5, the Dairy Spot Call will continue with the existing open outcry trading hours as follows:
– Cheese (Barrels and Blocks) 10:45 AM to 10:55 AM CST
– Nonfat Dry Milk 10:55 AM to 11:00 AM CST
– Butter 11:05 AM to 11:15 AM CST