To most people, the open outcry
method for trading commodities seemed outrageously ridiculous, but it worked.
trade has been particularly suited to oil, which is often driven by events.
To assist floor traders with the transition going forward, the company will make every attempt to make booth space available to those who want to trade electronically following the closure of the open outcry
settled, will continue to trade in CBOE's open outcry
environment under ticker "SPX.
In an announcement ceremony immediately prior to the auction, the five highest bidders, including ties, are invited to participate in the open outcry
auction that follows.
Over the next few months, the area where the open outcry
trading floor is located will be totally redesigned and included in the Exchange's regular public visitation schedule, which currently utilizes the BM&FBOVESPA space, where visitors receive information about financial market activities and instruction on how the stock and derivatives markets work.
Boyle added that while the traditional Amex options business was 20 percent electronic and 80 percent open outcry
, he would like to see those figures reversed, moving to between 70 and 80 percent electronic.
Commodity News for Tomorrow" is emailed to subscribers every afternoon after the CBOT's open outcry
markets close for the day.
On Wednesday, December 24, most product groups have abbreviated open outcry
Through a combination of open outcry
floor trading and the NYMEX ACCESS(R) and NYMEX ClearPort(R) electronic-trading platforms, a wide range of products--including crude oil, petroleum products, natural gas, coal, electricity, gold, silver, copper, aluminum, and platinum group metals markets--are available virtually 24 hours each day.
31 /PRNewswire-FirstCall/ -- CME Group, the world's largest and most diverse derivatives exchange, will close only the Foreign Exchange and Interest Rate open outcry
trading floors on Tuesday, November 11 in observance of Veterans Day.
The ICE announcement follows Nymex's recent bombshell that it has decided to offer side-by-side open outcry
and round-the-clock electronic trading of its benchmark, physically settled energy futures contracts.