CME Futures Seen by Traders Maintaining Current Settlement Times
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CME Group Inc. will probably maintain current settlement times for commodity futures even after pit trading is halted for those contracts in New York and Chicago later this year, traders said.
“We’ve been told so far settlement will still be the open outcry hours,” Roger Smith, managing partner of Smith & Moore, a floor brokerage on the New York Mercantile Exchange, said after a members-only meeting Wednesday in Lower Manhattan.