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Friday was last day for fabled New York "outcry" commodity trading

Published Sun, Jan 1, 2017 · 09:50 PM
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New York

IT'S the end of an era and another sign of digital dominance: Friday was the final day screaming, gesturing traders can buy and sell commodities, including oil, on a trading floor in New York.

The death knell for "open outcry" trading in New York came in April when the CME Group announced it planned to close the physical trading floor at the end of 2016, saying volumes for the old-fashioned method which represented just 0.3 per cent of overall energy and metals trading.

"I can confirm that all open outcry options on futures trading pits in New York will be closed, as planned, at the end of trading today," a spokesman for the Chicago Mercantile Excha…

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