CME Spared Open-Outcry Options Traders, But for How Long?
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Is CME Group Inc. starting to lose its rationale for letting options traders stick around the pits, yelling and waving their hands to buy and sell the contracts?
Even as the exchange operator shut nearly all of its open-outcry futures trading this year, CME spared the options pits in Chicago and New York. For years, CME has said options are complicated, so it’s tough to shift the business over to computer screens -- explaining why it still lets humans gather together in person.