Scorsese's cut of the film is 180 minutes long and the director is reportedly in discussions with his producers about how to shorten the running time.
Paramount and Scorsese are hoping that the movie, based on former broker Jordan Belfort's best-selling memoir, will be completed by Christmas in time for an awards run. Otherwise, they will have to push it to next year, said the Hollywood Reporter.
If the film is finished in time for a holiday release, Paramount apparently is ready to shift the opening of Kenneth Branagh's 'Jack Ryan' from Christmas Day to January 17 and give Scorsese's film the Christmas Day slot, THR said quoting sources.
Scorsese and DiCaprio have previously worked together on 'Gangs of New York', 'The Aviator', 'The Departed' and 'Shutter Island'.