CHICAGO (AP) - Chalk up another victory of the machines over humans.
CHICAGO (AP) — Chalk up another victory of the machines over humans.
The parent company of the Chicago Board of Trade and other exchanges is ending most trading involving people on the floor who establish prices by flashing hand signals and shouting at each other.
CME Group said Wednesday it that it will close most of its futures trading pits in Chicago and New York by July 2.
The move comes as so-called "open outcry" futures trading has fallen to 1 percent of CME Group's futures volume. Most of the trading is now done electronically.