Order Executions
Technique
Both hands up in the air conveying that a larger quantity is being bid on (quantity varies by pit).
Origin
Greater emphasis with two hands. CME version.
Buying - larger size

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Both hands up in the air conveying that a larger quantity is being bid on (quantity varies by pit).
Greater emphasis with two hands. CME version.

One hand up in the air conveying that a smaller quantity is being bid on (quantity varies by pit).
Less emphasis with one hand. CME version.

Hand is moved side-to-side displaying price trading.
Motion indicates action. CME version.

Thumb and index finger move close with about an inch of empty space in between.
Fingers indicate small amount. CME version.

Hand is held with fingers extended and moved up and down above head.
Size is indicated at head. CME version.

Hand is held with fingers extended and moved outward.
Hand moves to indicate let go. CME version.

Index and middle fingers are crossed with other fingers curled.
Unknown. SIMEX version.

Thumb is extended upward from fist.
Thumbs up is universal for good or accomplished. CME version.

Hand is held with fingers extended outward and elbow at 90 degree angle. Arm is extended forward until straight.
Trades originally were sealed w/a handshake and this is a handshake motion. CBOT, LIFFE, NYMEX version.

Index finger is extended outward and rotated in circles.
Gears moving. CME version.

Index finger is extended and forms a "check mark."
Check mark. CME version.

Hand is held with fingers extended and held to cheek.
90 degree angle like a T. CME version.

Both hands are held with fingers extended and crossed to form a letter "T."
"T" for total. CME version.

Hand is held with fingers extended and touching chin.
"T" for total. MATIF version.

Thumb and index finger tug earlobe.
Unknown. CME version.

Thumb and index finger are held to form the letter "L."
"L" for limit. CME version.

Fist is pressed into palm of other hand.
Hand stops fist. CME version.

Fist makes banging motion.
Hand stops mid-motion. CME version.

Index finger and thumb are extended and held to side of head.
Kill with gun. CME version.

Thumb and index finger are rubbed together.
Touching paper in fingers. CME version.

Hand is held with fingers extended outward and moved in a 180-degree arc that opens downward.
Motion indicates higher. CME version.

Hand is held with fingers extended outward and moved in a 180-degree arc that opens upward.
Motion indicates lower. CME version.

Hand is formed into closed fist with thumb pointed upward and moved upward.
Thumb points higher. CME version.

Hand is formed into closed fist with thumb pointed downward and moved downward.
Thumb points lower. CME version.

With index finger extended outward, hand is moved in a 180 degree arc outward from body.
Continual motion. CME version.

One hand is held stationary while other hand is pumped up and down.
Reloading a shotgun. CME version.

Fingers scratching a cheek.
Fingers scratching. CME version.

Index and middle fingers are extended outward from fist.
Fingers spreading. CME version.

Hand moves back and forth in swimming motion.
Hand moves side to side indicating spread. LIFFE version.

Thumb and index finger are extended upward, then brought together and apart.
Fingers spread. SIMEX version.

Fingers are held at downward 45 degree angle, then flapped up and down.
Hand flies like a butterfly. CME version.

Hand makes slicing motion at neck level.
Cut throat. CME version.

Thumb and index finger are held to form a 90 degree angle.
90 degree angle represents edge of trading card. CME version.

Hands are held together with palms open upward.
Open book. MATIF version.

Hand grips necktie and pulls upward.
Tie represents noose. CME version.

Index finger pointed to the throat.
Point to where noose would hang. MATIF version.
Functions
Many different functional hand signals were developed to facilitate new contracts, the options markets and to be more specific in order execution. Generally, such functional signals were highly localized and their use confined to one exchange or even one pit.