CHICAGO, Feb. 4, 2015 /PRNewswire/ -- As open outcry
futures trading has fallen to just one percent of the company's
total futures volume, CME Group today announced it will close most
of its futures trading pits in Chicago and New
York by July 2, 2015.
The floor-based S&P 500 futures market, which continues to
provide an important venue for trading the underlying futures
contract for the open outcry S&P 500 options on futures
contract, will remain open on CME Group's Chicago trading floor.
Options on futures contracts, which continue to trade actively
on both the floor and the screen, will remain open on both trading
floors except for the DJIA ($10) and
NASDAQ-100 open outcry equity index options markets which are
designed to deliver into floor-based futures contracts.
With the exception of the S&P 500 futures and options on
futures pits which will remain open, equity index futures pits and
the DJIA ($10) and NASDAQ-100 options
pits will close following the expiration of the June 2015 contract on June
19, 2015. All other futures pits will close on July
2. In addition, in Chicago,
all options pits will be located on a single floor in the company's
Financial Room by September.
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 futures pits.
CME Group will hold members' meetings in Chicago and New
York to answer questions and discuss transition plans.
Only current member owners will be admitted.
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) is where the world comes to manage
risk. CME Group exchanges offer the widest range of global
benchmark products across all major asset classes, including
futures and options based on interest rates, equity indexes,
foreign exchange, energy, agricultural commodities, metals, weather
and real estate. CME Group brings buyers and sellers together
through its CME Globex® electronic trading platform, its trading
facilities in New York and
Chicago, and through its
London-based CME Europe
derivatives exchange. CME Group also operates one of the
world's leading central counterparty clearing providers through CME
Clearing and CME Clearing Europe, which offer clearing and
settlement services across asset classes for exchange-traded
contracts and over-the-counter derivatives transactions.
These products and services ensure that businesses everywhere can
substantially mitigate counterparty credit risk.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME,
Globex and Chicago Mercantile Exchange are trademarks of Chicago
Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the
Board of Trade of the City of
Chicago, Inc. NYMEX, New York Mercantile Exchange and
ClearPort are registered trademarks of New York Mercantile
Exchange, Inc. COMEX is a trademark of Commodity Exchange,
Inc. KCBOT, KCBT and Kansas
City Board of Trade are trademarks of The Board of Trade of
Kansas City, Missouri, Inc.
All other trademarks are the property of their respective owners.
Further information about CME Group (NASDAQ: CME) and its products
can be found at www.cmegroup.com.
CME-G
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/cme-group-to-close-most-open-outcry-futures-trading-in-chicago-and-new-york-by-july-most-options-markets-to-remain-open-300031191.html
SOURCE CME Group