CME to Halt Most Open Outcry Futures Trading by July
Floor-based S&P 500 futures market will stay open
The exchange says open outcry futures trading accounts for just one percent of CME Group's total futures volume. The floor-based S&P 500 futures market will still remain open on the CME Group's Chicago trading floor.
Options on futures contracts, which, according to the exchange, still have a fair amount of activity on the floor, will stay open in both Chicago and New York with a few exceptions. The Dow Jones Industrial Average (DJIA) ten-dollar and the Nasdaq-100 options pits will close once their June 2015 contract expires on June 19.
CME's will move all the options pits in Chicago to one floor in the exchange's Financial Room by September. CME will attempt to offer booth space available to traders looking to trade electronically once the open outcry futures pits are closed.
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