IntercontinentalExchange (ICE) has delayed the commencement of side-by-side electronic trading at its New York Board of Trade (Nybot) subsidiary by a further week to provide more time for participants to get ready for the new system.
ICE says the new start date of 2 February will provide Nybot participants and quote vendors with additional time to meet their connectivity, staffing and training needs.
This is the second postponement of e-trading in the physical futures contracts for sugar, cotton, coffee, cocoa and frozen concentrated orange juice at Nybot since the original 19 January deadline was rolled over last week.
ICE says requests for electronic enrollment and training on the new markets has been stronger than expected with over 1000 new user identifications (ID's) created to date.
ICE president and COO Chuck Vice, says: "Because these markets have never traded electronically, we believe that it is prudent to take the time to help ensure an environment in which a successful launch can occur."
Trading will initially run from 7:00 a.m. ET through 3:15 p.m. ET, he says, with plans to move to a 22-hour trading day once the new platform has bedded in.