CME Group to Close Most of Its Trading Pits in Chicago

By Alexander Osipovich7 days ago

The exchange operator CME Group Inc. said it would permanently close most of its open-outcry trading pits in Chicago, ending one of the worlds last vestiges of old-fashioned floor trading.

In an announcement Tuesday, CME said a number of trading pits that it closed temporarily in March 2020 to prevent the spread of Covid-19 wouldnt be reopened. Many U.S. workplaces are coming back to life as the pandemic eases.

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Some of the CME pits being shut down include pits for trading agricultural commodities, where traders haggle over options on soybeans, wheat, cattle and hogs.

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