Chicago | Reuters — Chicago brokers and traders worry COVID-19 will kill more of the city’s once famous shout-and-gesture trading pits. CME Group, which owns the Chicago Board of Trade, said this week that most of the pits it closed in March because of the pandemic will remain shuttered indefinitely. The news disappointed some brokers […] Read more
Coronavirus threatens Chicago’s last remaining trading pits
Grain options pits remain closed, for now
For Chicago futures traders, one final round in the ring
Chicago | Reuters –– A few dozen Chicago traders donned their multicoloured jackets to trade soybean and Eurodollar futures the old-fashioned way one last time on Monday, marking the end of 167 years of open-outcry trading in the city where it was born. Barring a last-minute delay by U.S. regulators, CME Group ended most of […] Read more
CME’s futures pit closures delayed to July 6 or later
Chicago | Reuters –– CME Group said Tuesday it will delay the closure of its open-outcry futures markets in Chicago and New York by at least one trading day due to a technical revision in its filing with the U.S. Commodity Futures Trading Commission. The final open-outcry session is now expected to be on July […] Read more
CME expects US$10M savings per year closing futures pits
New York | Reuters –– CME Group will save US$10 million (C$12.4 million) per year after it shuts nearly all of its futures pits in New York and Chicago, a spokesman said Thursday, as the world’s biggest futures exchange pushes ahead with cost-cutting measures. While that may be a significant saving in a single step, […] Read more
CME Group to close most open-outcry futures trading pits
Chicago | Reuters — CME Group will shutter most of its open-outcry futures pits by July 2, the world’s largest futures market operator said Wednesday, bringing down the curtain on a once-raucous tradition that has been in decline since the rise of computerized trading. The decision ousts traders of products ranging from grain and livestock […] Read more
Cyber-Savvy Farmer
