September 21, 2012 / 5:52 PM / 8 years ago

ABN AMRO to retain 3 Chicago commodity trading desks

* ABN AMRO grain futures pit trade desk to close Nov. 1

* Company to retain three desks

* Remaining desks to trade commodities including grains

CHICAGO, Sept 21 (Reuters) - Brokerage ABN AMRO said on Friday it will shut a grains desk on the trading floor of the Chicago Board of Trade on Nov. 1, part of streamlining its operations, company officials said.

The company will retain three other desks on the trading floor handling commodity products, including grains.

“We remain fully committed to our floor presence at the Chicago Board of Trade and providing full coverage of all commodity products for our local and international clients,” said Bill Floersch, chairman of ABN AMRO Clearing in Chicago.

“These desks will continue to work alongside our electronic trading platform to provide our clients with 24 hour market access,” he said in a statement.

The five members of the company’s grain futures pit trading desk, four phone clerks and one runner, told Reuters on Thursday that they would be leaving on Nov. 1.[IDnL1E8KKCX1}

Growth of electronic trading has seen the floor population shrink from roughly 1,000 two decades ago to around 250 today.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below