And so it begins...
"The Chicago Mercantile Exchange is expanding electronic trading of commodities which reached record volumes last year.
CME said products in the commodities complex will be offered for electronic trading virtually 24 hours a day from June 4. Contracts currently trade during daytime trading hours in Chicago.
Terry Duffy, chairman of the CME, said: "CME is a global marketplace and we are committed to meeting customers' risk management and trading needs whether they are located in Asia, Europe, Latin America or the US."
Electronic trading of CME Commodities has now reached 10% of total daily commodities volume.
On March 19, CME will start trading dry whey futures. Whey is the liquid remaining after milk has been curdled and strained and is a by- product of the manufacturing of cheese.
John Harangody, director of CME commodity products, said: “With the growing consumption of energy drinks and power bars, dry whey is increasingly in demand thereby creating more frequent imbalances between supply and demand. As a result, dry whey has become a volatile commodity.”