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Yes, for the July 4 holiday the CME will open for equity futures trading (not for equity trading, which is on the NY Stock Exchange, which is closed ), at the usual time of 1700 CT Sunday, 7/3, and it will close at 1200 CT on Monday, the 4th. This is how they do it just about every holiday that only affects the US: open at the regular time, close at Noon CT. Then it reopens Monday at 1700 CT, as if a new week were starting on Sunday night (but it's Monday.)
Friday, July 1, CME closes at the regular Friday closing time of 1600 CT.
On a normal week, CME closes Friday at 1600 CT and reopens for the next week on Sunday night at 1700 CT. For Monday holidays, they typically just open up Sunday night and run until noon on Monday, then start the week again Monday night.
Volume will be extremely low to nearly dead on Monday, but there will be some for a while.
So it's just like it says on the schedule. Once you've read a few of these, it will look simpler, even normal.
Bob.
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Edited a few times because I screwed up the 1600's and 1700's, as I usually do, since I'm on ET.
But it's still a short day on the 4th....
When one door closes, another opens.
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Gone are the days when the exchange closes early on a Friday of a 4 day weekend and doesn't reopen until Monday night. That's what happens when the control moves from a group of locals who arrange everything around what's best for their schedules to a publicly owned exchange where everything is electronic and every single contract/dollar counts.
@wisp that link clearly says 'trading floors'. I believe the only trading floor open is the Eurodollar Options pit.
CME is closed on Saturday and Sunday. Otherwise there arefour types of days:
(1) Regular business days
(2) Holidays where the exchange is open with an early close at noon CT (1:00 PM EST)
(3) Holidays where the exchange is closed
(4) Special cases
Now cases(1) and (3) are easy to handle, case(2) is a bit tricky, (4) applies to Good Friday and Christmas Eve. I will explain the four cases below for US equity index futures. There may be different rules for other futures contracts.
(1) Regular business days
The exchange opens at 5:00 PM CT (Chicago Time) the prior evening and closes at 4:00 PM CT.
Example: Monday, July 18, 2022. The exchange opens at 5:00 PM CT on Sunday, July 17 and closes at 4:00 PM CT on Monday, July 18. All futures transactions belonging to this session are for trade date July 18 and will be settled on the next business day, which is Tuesday, July 19. Open positions are marked to market by applying the official daily settlement price. The settlement price is the volume weighted average price of all transactions taking place on Monday, July 18 between 2:59:30 PM and 3:00:00 PM CT.
Summary for regular business days:
- the market is open from 5:00 PM until 4:00 PM
- the settlement price is determined during the 30 seconds prior to 3:00 PM
- all trades are marked to market or settled next day
(2) Holidays where the market is open with an early close
This rule is applied to the following holidays:
Martin-Luther-King Day
President's Day
Good Friday (in 2021, but not in 2019, 2020, 2022 where it was closed)
Memorial Day
Juneteenth (since 2022)
Independence Day
Labor Day
Thanksgiving
The trading sessions for these holidays start at 5:00 PM CT the prior day and close at 12:00 PM (noon) CT. Mostly the session with an early close fall together with a Monday. Exceptions are Independence Day (which may be observed on different days) and Thanksgiving which always falls together with a Thursday. Now this is not all which makes these days different.
In particular these 8 days do not count as trading days and there is no settlement period. All transactions carried out during these days are for trade date next day and are settled two business days after the transaction. For 2022 we have
Martin-Luther-King Day: 17.01.2022 for trade date 18.01.2022 with settlement on 19.01.2022
President's Day: 21.02.2022 for trade date 23.02.2022 with settlement on 24.02.2022
Memorial Day: 30.05.2022 for trade date 31.05.2022 with settlement on 01.06.2022
Juneteenth (since 2022): 20.06.2022 for trade date 21.06.2022 with settlement on 22.06.2022
Independence Day: 04.07.2022 for trade date 05.07.2022 with settlement on 06.07.2022
Labor Day: 05.09.2022 for trade date 06.09.2022 with settlement on 07.09.2022
Thanksgiving: 24.11.2022 for trade date 25.11.2022 with settlement on 28.11.2022
Example: Monday, July 4, 2022. The exchange opens at 5:00 PM CT on Sunday, July 3 and closes at 12:00 PM (noon) CT on Monday, July 4. There is no settlement price for July 4. All futures transactions belonging to this session are for trade date Tuesday, July 05 and will be settled on the next business day, which is Wednesday, July 06. Open positions are marked to market by applying the official daily settlement price. The settlement price is the volume weighted average price of all transactions taking place on Tuesday, July 05 between 2:59:30 PM and 3:00:00 PM CT.
Summary for special holidays
- the market is open from 5:00 PM CT until 12:00 PM (noon) CT
- there is no settlement price
- contractually, the trading day does not count as such but it part of the next trading day
- all trades are only marked to market or settled with the trades of the next trading day
- the settlement takes place two days later
This has further implications. As these days are no trading days, and as there is no settlement price, there will be no daily bar on a daily chart.
So you will notice that for these days you data provider supplies intraday data, but that there is no daily data.
This has further implications for some indicator as floor pivots, which are calculated from the contractual trading date and not from a holiday session.
(3) Holidays where the exchange is closed
This is an easy case, as you may treat it as a Saturday or Sunday. Exchange closed, no trades, no trade data.
New Year's Day
Good Friday (with the exception of 2021)
Christmas Eve (when Christmas Day falls together with a Saturday)
Chistmas Day
Boxing Day (when Christmas Day falls together with a Sunday)
(4) Special cases
For Good Friday the rules seem to change every second year. Sometimes the exchange was fully closed (2019, 2020, 2022). Then it was open with an early close at 08:15 AM CT (2021).
This means that in 2021 you would have treated it as part of the Easter Monday session and it would have fallen into category (2)
For Christmas Eve there is an early close (12:15 PM CT) with an early settlement (12:00 PM CT). So it is not as complex as the cases in category (2).