Chicago Options Exchange Opts For First ‘Open Outcry’ Live Trading Floor In Years

The Chicago Mercantile Exchange. Former trader Jody Michael says unlike most people she felt right at home in the chaotic risk-taking chaos environment of the famous trading pit.
The Chicago Mercantile Exchange. Former trader Jody Michael says unlike most people she felt right at home in the chaotic risk-taking chaos environment of the famous trading pit. Wikipedia
The Chicago Mercantile Exchange. Former trader Jody Michael says unlike most people she felt right at home in the chaotic risk-taking chaos environment of the famous trading pit.
The Chicago Mercantile Exchange. Former trader Jody Michael says unlike most people she felt right at home in the chaotic risk-taking chaos environment of the famous trading pit. Wikipedia

Chicago Options Exchange Opts For First ‘Open Outcry’ Live Trading Floor In Years

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.