IPE to open Brent trade Saturday @7:30 PM EDT

Discussion in 'Commodity Futures' started by Cdntrader, Sep 23, 2005.

  1. IPE to open Brent trade Saturday

    Exchange will offer electronic trading in Brent on Saturday due to potential impact of Rita.
    September 23, 2005: 10:20 AM EDT

    LONDON (Reuters) - The International Petroleum Exchange will open electronic trading in its Brent and gas oil futures contracts at 7:30 p.m. EDT on Saturday due to the potential impact of Hurricane Rita, the IPE's owner said on Friday.

    The exchange will stay open until 5:00 p.m. EDT on Monday, the Intercontinental Exchange said in a statement.

    The market will have a 15-minute pre-open period on Saturday from 7:15 p.m. EDT when traders can enter orders, and trading proper will begin 15 minutes later.

    The move has provoked anger among traders, who said they did not need the extra time to react to Rita's impact on the U.S. energy industry.