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Futures Market Hours: Holiday Trading Schedule

December 16, 2019 by Daniels Trading| Tips & Strategies

The Chicago Mercantile Exchange (CME) is the world’s largest futures marketplace. Traders from around the world engage the CME on a daily basis, courtesy of its CME Globex electronic platform. The exchange’s regular business hours are nearly 24/5, but 11 U.S.-recognized holidays affect its schedule. Here is the CME Group’s futures market hours holiday schedule for 2020:

Holiday Dates Impacted
Dr. Martin Luther King, Jr. Day January 17-21
President’s Day February 14-18
Good Friday (Easter Weekend) April 9-13
Memorial Day May 22-26
Independence Day July 2-6
Labor Day September 4-8
Thanksgiving November 25-27
Christmas December 24-28
New Year’s December 31 2020-January 4 2021

The trading hours for each affected session on the CME Group’s 2020 holiday calendar are finalized two weeks prior to the dates in question. Before trading on these days, it’s imperative that you check with your broker regarding each market’s official opening and closing times.

If you’re going to actively trade during a holiday, remember that the days leading up to and following the event are frequently impacted. Often, an early close will precede the holiday itself, with the market re-opening at an unconventional time. Each of these factors can significantly impact liquidity, so you should account for them on a case-by-case basis.

Keys to Holiday Trading

Over the course of the year, holidays periodically halt or cease trading on the futures markets. From traditional celebrations such as Christmas and New Year’s to government and bank closures, business hours are subject to change.

As with most everything in futures trading, there is considerable nuance involved with the futures market hours holiday calendar. Here are a few important considerations to make before assuming risk during the observance of a holiday:

  • Liquidity: During a typical futures market hours holiday session, participation levels tend to lag. Because many retail traders and institutional investors are out of the office, traded volumes decrease. When this occurs, wide bid/ask spreads, increased slippage, and chaotic price action become the norms.
  • Shortened session: In many cases, holidays are observed by an early halt to trading instead of an outright market closure. For these sessions, intraday traders are faced with limited opportunities and urgent maintenance margin considerations on the premature close.
  • News cycle: Unlike banks or the U.S. government, real life is not on a preset schedule. Surprise headlines and global market drivers are capable of occurring 24/7/365. If an untimely event takes place during a closure or abbreviated holiday session, price action can become unhinged very quickly.

In reality, the futures markets are open and at full-strength for about 249 days each year. If holiday action is especially thin or turbulent, then you don’t have to trade. Often, seizing the opportunity to take a much-needed break is more financially and psychologically rewarding than piling on the risk in less-than-ideal conditions.

If You’re Not Sure, Check with Your Broker

Holiday trading is no easy task. Many of the products listed on the CME feature specific business hours and unique liquidity concerns. Interest rates, ag markets, equities, and commodities all have different parameters. In short, one size does not fit all. Understanding when these markets open and close and what to expect is key to managing holiday sessions successfully.

For many, the holidays are a chance to take a break from the action of the market. However, if you’re going to trade, be sure to consult your broker’s futures market hours holiday calendar. To learn more, become a DT Insider to enjoy the benefits of Daniels Trading’s online Futures Calendar & Reference Guide.

Ready to think like a technical trader? Download our free guide to learn how to identify chart formations and take action when the time is right.

Filed Under: Tips & Strategies, Uncategorized

About Daniels Trading

Daniels Trading is division of StoneX Financial Inc. located in the heart of Chicago’s financial district. Established by renowned commodity trader Andy Daniels in 1995, Daniels Trading was built on a culture of trust committed to a mission of Independence, Objectivity and Reliability.

Risk Disclosure

The StoneX Group Inc. group of companies provides financial services worldwide through its subsidiaries, including physical commodities, securities, exchange-traded and over-the-counter derivatives, risk management, global payments and foreign exchange products in accordance with applicable law in the jurisdictions where services are provided. References to over-the-counter (“OTC”) products or swaps are made on behalf of StoneX Markets LLC (“SXM”), a member of the National Futures Association (“NFA”) and provisionally registered with the U.S. Commodity Futures Trading Commission (“CFTC”) as a swap dealer. SXM’s products are designed only for individuals or firms who qualify under CFTC rules as an ‘Eligible Contract Participant’ (“ECP”) and who have been accepted as customers of SXM. StoneX Financial Inc. (“SFI”) is a member of FINRA/NFA/SIPC and registered with the MSRB. SFI does business as Daniels Trading/Top Third/Futures Online. SFI is registered with the U.S. Securities and Exchange Commission (“SEC”) as a Broker-Dealer and with the CFTC as a Futures Commission Merchant and Commodity Trading Adviser. References to securities trading are made on behalf of the BD Division of SFI and are intended only for an audience of institutional clients as defined by FINRA Rule 4512(c). References to exchange-traded futures and options are made on behalf of the FCM Division of SFI.

Trading swaps and over-the-counter derivatives, exchange-traded derivatives and options and securities involves substantial risk and is not suitable for all investors. The information herein is not a recommendation to trade nor investment research or an offer to buy or sell any derivative or security. It does not take into account your particular investment objectives, financial situation or needs and does not create a binding obligation on any of the StoneX group of companies to enter into any transaction with you. You are advised to perform an independent investigation of any transaction to determine whether any transaction is suitable for you. No part of this material may be copied, photocopied or duplicated in any form by any means or redistributed without the prior written consent of StoneX Group Inc.

© 2023 StoneX Group Inc. All Rights Reserved

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Risk Disclosure

The StoneX Group Inc. group of companies provides financial services worldwide through its subsidiaries, including physical commodities, securities, exchange-traded and over-the-counter derivatives, risk management, global payments and foreign exchange products in accordance with applicable law in the jurisdictions where services are provided. References to over-the-counter (“OTC”) products or swaps are made on behalf of StoneX Markets LLC (“SXM”), a member of the National Futures Association (“NFA”) and provisionally registered with the U.S. Commodity Futures Trading Commission (“CFTC”) as a swap dealer. SXM’s products are designed only for individuals or firms who qualify under CFTC rules as an ‘Eligible Contract Participant’ (“ECP”) and who have been accepted as customers of SXM. StoneX Financial Inc. (“SFI”) is a member of FINRA/NFA/SIPC and registered with the MSRB. SFI does business as Daniels Trading/Top Third/Futures Online. SFI is registered with the U.S. Securities and Exchange Commission (“SEC”) as a Broker-Dealer and with the CFTC as a Futures Commission Merchant and Commodity Trading Adviser. References to securities trading are made on behalf of the BD Division of SFI and are intended only for an audience of institutional clients as defined by FINRA Rule 4512(c). References to exchange-traded futures and options are made on behalf of the FCM Division of SFI.

Trading swaps and over-the-counter derivatives, exchange-traded derivatives and options and securities involves substantial risk and is not suitable for all investors. The information herein is not a recommendation to trade nor investment research or an offer to buy or sell any derivative or security. It does not take into account your particular investment objectives, financial situation or needs and does not create a binding obligation on any of the StoneX group of companies to enter into any transaction with you. You are advised to perform an independent investigation of any transaction to determine whether any transaction is suitable for you. No part of this material may be copied, photocopied or duplicated in any form by any means or redistributed without the prior written consent of StoneX Group Inc.

© 2023 StoneX Group Inc. All Rights Reserved

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