News of pit closures place CME members and board at odds | WBEZ
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News of pit closures place CME members and board at odds

Come July, Chicago will reportedly say goodbye to a 150 year tradition - its stock exchange trading floor pits. CME Group announced it would close most of its futures contract trading pits this summer, as trading has predominately become electronic. But according to Reuters reporter Karl Plume, the way the news was delivered to clients here last Friday left a bad taste in many mouths. Another meeting is scheduled for Wednesday in New York. We talk with David Greenberg of Greenberg Capital, who believes that even though trading in the pits now only make up a small portion of all futures trading, we’re losing something even bigger than the jobs.(Flickr/Lars Plougmann)

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