13 days ago • Posted by Jasper Lawler
CME to permanently close most open outcry trading pits
Electronic trading has mostly replaced the trading floor anyway- now it seems the pandemic is the final nail in the coffin for the original venue for trading - like seen in the movie 'Trading Places'.
CME Group, the world's leading and most diverse derivatives marketplace, today announced that it will not reopen its physical trading pits that were closed last March due to the outbreak of the COVID-19 pandemic. The Eurodollar options pit, which was reopened last August, will remain open, allowing these contracts to continue to trade in both open outcry and electronic venues. CME Group also announced that, subject to regulatory review, it will delist its full-size, floor-based S&P 500 futures and options contracts following the expiration of the September 2021 contracts on September 17, 2021.
Source: PR Newswire / ForexLive