Although the trading floors at the Chicago Mercantile Exchange closed in 2015, more than 400 traders still do their work in-person at the Chicago Board Options Exchange. But overall, live trading has been in decline for years as electronic and high-speed trading has taken its place.
This week, a wrinkle in that narrative: Box Options Exchange got approval from the U.S. Securities and Exchange Commission to put 40 traders onto a live trading floor in Chicago. It’s the first time Chicago is adding so-called “open outcry” traders in years.
Morning Shift talks about the move with Box Options CEO Ed Boyle.