The Digitex Futures exchange is the brainchild of former professional trader Adam Todd, who started his career in the City trading pits
. There, he learned the art of scalping - a small profit, high-frequency trading style.
Scott Shellady, known in the trading pits
of Chicago for his trademark "cow jacket," isnt going to let todays historic blast of Arctic freeze keep him away from the options pits at the worlds largest derivatives exchange, even though many of the citys workers are planning to hunker down at home.
Rather than open outcry at trading pits
, the floor of the exchange is now dominated by hi-tech booths, served by traders equipped with electronic tablets to record trades and deals.
We argue that, in the case of early-20th-century open-outcry trading pits
, traders tried to enact a total merger of bodily and market rhythms.
For the vast majority of Americans, the July 6 closing of the commodities trading pits
in Chicago and New York was no big deal.
Also reporting earnings after the bell, CME Group will be in focus after the group announced plans to close most of its futures trading pits
in Chicago and New York City by July 2 on Wednesday.
"The opening went peacefully enough, and peaceful is good," UBS director of floor operations Art Cashin said on CNBC from the New York Stock Exchange trading pits
, which were operating on generator power.
In fact, I remember many years ago, IAFP (the forerunner of the FPA) board member Bill Kovasic, who lived in Chicago, the home of the commodities trading pits
, argued that effective asset allocation required the diversification and inflation hedge of commodities.
The LSE closed its trading pits
in 1986 and has for years marked the start of trading by activating balls on a mobile sculpture known as The Source.