CME-CBOT deal pushes trading pits closer to extinction
CME-CBOT deal pushes trading pits closer to extinction
The Chicago Mercantile Exchange's $8 billion takeover of crosstown rival the Chicago Board of Trade will likely accelerate the disappearance of the "open outcry" method of trading. CME president Craig Donohue, a lawyer who never traded in the pits, has pushed his organization rapidly and with considerable success toward screen-based trading.
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posted by Victor Lloyd Smith @ 12:11 AM
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