The closure of open-outcry futures trading is bringing an end to surprisingly close connections among traders that have characterized the Chicago exchanges for decades. Full Article
LONDON The London Metal Exchange has laid out the timeline for its plans to reform and reverse declining volumes ahead of an annual gathering of the metals industry in London starting Oct. 30.
LONDON The London Metal Exchange sought on Thursday to win back trading volumes by proposing a cut in fees for trades crucial to its physical user base as rivals gear up to offer alternatives.
Closing the CME's futures trading pits will consign the last practitioners of a sign language based on buying and selling contracts to electronic terminals. Video
LONDON The London Metal Exchange (LME) is set to upgrade and strengthen its electronic trading system after falling volumes and user complaints about outages and poor functionality.
LONDON Matt Chamberlain was named London Metal Exchange (LME) chief executive on Friday, with a mandate from its owner the Hong Kong bourse to reform the world's largest and oldest metals market.
(Story refiles to insert dropped letter in first paragraph of Tuesday report)
LONDON It's time to talk about the London Metal Exchange (LME).
LONDON It's a debate that has raged in other parts of the financial universe for years.
LONDON Volumes are falling. Discontent is rising. Even the London Metal Exchange's (LME) new building in Finsbury Square was a let-down.
LONDON The temporary relocation of open outcry trading at the London Metal Exchange (LME) to a disaster recovery site due to problems at its new offices hit volumes hard during the already quiet summer months, broking sources said.
LONDON The London Metal Exchange (LME) plans no further fee cuts after announcing lower charges for short-dated trades last week, which industry sources saw as an attempt to halt a slide in trading volumes. [AHOME/]
The world's largest futures market operator will shutter almost all of its open-outcry futures pits by July 2, ringing the closing bell on a once-raucous tradition that has been in decline since the rise of computerized trading. Full Article
Leo Melamed is known as "the father of financial futures," and on the day electronic futures trading killed off its pit-style sibling, Melamed said it was all for the best. Full Article
The boisterous world Kevin Duffy entered 34 years ago to run paper slips into trading pits at the Chicago Board of Trade was an age apart from today, when open-outcry trading only intermittently disrupts the quiet hum of computers. Full Article
Traders packed shoulder-to-shoulder in Chicago's grain options pits are confident closure of the neighboring futures space did not herald the imminent demise of their business, despite eroding trading volumes and improving technology. Full Article
For tailor Peter Papageorge,making the vibrant jackets worn by traders on the floors of exchanges in Chicago and New York used to be the bulk of his business. Now, it is pretty much a novelty as the old-fashioned open outcry trading shrivels and dies. Full Article
After 167 years, the CME's open outcry system for trading futures closed on Monday. Bobbi Rebell reports. Video