Final Bell for the Futures Pits

On Monday, the closing bell for the futures pits rang unceremoniously. The exchange, which once struggled in the mid 1800s to entice new members with a free lunch spread, closed down the trading pits in a manner to usher out members as quick as possible. While I certainly didn’t expect much, it would’ve been nice for something to commemorate the …

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Rum brokering to futures clearing

image source: thedrinkingcup.net Of all the financial firms which participated on the trading floors, none has more interesting origins than E.D.&F; Man as it served as official rum merchants to the Royal Navy for almost 200 years.  The group was founded in 1783 by barrel maker James Man and continued as the official supplier of rum to Limey sailors from …

Trading Pit Hand Signals book video trailer

We’ve taken a long while to finishing the Trading Pit Hand Signals book trailer but it’s great to finally release it as the video really captures the depth of the book.  Hopefully you agree and get a sense for the pit because we put audio from the wheat pit at the KCBT throughout the minute long video.  The reason behind …

Follow-up on futures trading pit closure

  Well, I guess I should remark a bit more on the closure of the futures trading pits now that I’ve had a chance to reflect upon things. The news hasn’t elicited much more than a “meh” response on my part for a couple reasons but mainly because the futures trading pits have been rendered almost irrelevant for a long …

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End of futures pits in July

Time to break out the trading jacket and cards one more time and card up a floor trade for the first time since 2005….. CME Group to Close Most Open Outcry Futures Trading in Chicago and New York by July; Most Options Markets to Remain Open Fare Thee Well isn’t just the tagline now for the final Grateful Dead reunion …