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Can someone decipher this for me?
https://www.cmegroup.com/trading-hours/files/thanksgiving-day-2023.pdf
In regards to the equities, or anything else, why are there different dates under date headings? For example, there's a November 24th in all three columns. Why? And why is there different info for each?
Can you help answer these questions from other members on NexusFi?
Sure. In practical terms, equities can be traded on Wednesday, 22 Nov, up until the normal close at 16:00 in Chicago (Central Time). Then trading resumes after the normal CME opening time of 17:00 until there is a halt at 12:00 Noon CT on Thursday. Then trading resumes again at the usual 17:00 CT open on Thursday, but only goes until 12:15 Friday, when it closes for the weekend.
The "Trade Date" may be giving you trouble with the table. "Trade Date" does not mean the actual calendar date when you clicked the mouse to make the trade (not my fault . ) It means the official CME date, which aligns with the CME open and close and starts the new "day" at 17:00 -- not like the calendar date, which starts at midnight.
But with a holiday, there is no "Trade Date" for the holiday, only for the next non-holiday date. So here's what the dates in the table mean:
Start with Wednesday, which is calendar date 22 Nov. It shows the normal 22 Nov close at 16:00, as expected. But at the open at 17:00, it shows the open as being for Friday, 24 Nov, That means that if you take a trade at that time, it will be counted by CME as happening on the Trade Date of Friday, skipping the Thursday date entirely.
Now, on Thanksgiving Day you can still make a trade, up to 12:00 Noon (CT), when there is a halt. This is very common on some holidays. But the official CME "Trade Date" is still 24 Nov. They just don't count any trade as happening on 23 Nov.
Then, at 17:00 on the 23rd, the CME "day" begins at its normal time, and, as it normally would be, the CME "Trade Date" is then 24 Nov. So any trade taken after the 17:00 CME open on 23 Nov is trade-dated for Nov 24, as it normally would be. The trade date stays the 24th until an early closing time of 12:15 on Friday, 24 Nov.
If you just get used to the "trade date" not necessarily being the calendar date, and if you realize that they also skip the holiday in counting "trade date," it all makes sense.
You should get used to this kind of thing, because many holidays are also somewhat like this.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
Thank you Bob. Difference between calendar date and trade date makes more sense now as to the columns. Just wished they'd bring back that Gantt chart looking thing. I could understand those better.