WINNIPEG, Manitoba (Reuters) - ICE Futures Canada is meeting with traders and brokers to assess whether to change the exchange’s trading hours, said President and Chief Operating Officer Brad Vannan on Thursday, after its key competitors said this week they would expand hours.
“It’s something you don’t want to make a knee jerk response to, but it’s definitely a topic that’s on our mind,” Vannan said in an interview.
ICE Canada, which is known for its canola contract, trades electronically only from 7 p.m. each evening until 1:15 p.m. (local time) the next day, from Sunday evening until Friday afternoon.
The exchange’s parent, IntercontinentalExchange Inc (ICE.N), is implementing nearly around-the-clock trading for its new U.S. grain contracts. CME Group (CME.O) is increasing trading hours for its contracts on May 21.
Both the Minneapolis Grain Exchange and Kansas City Board of Trade said on Thursday that they would expand to trading wheat contracts 22 hours a day by the same date.
Vannan said he did not have a timetable to decide on any change to ICE Canada’s hours.
Reporting by Rod Nickel in Winnipeg; Editing by John Picinich