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CME Group closes futures pits without extended U.S. review
July 6, 2015 / 9:11 PM / 2 years ago

CME Group closes futures pits without extended U.S. review

CHICAGO (Reuters) - CME Group Inc (CME.O) ended open-outcry trading in most of its futures markets as planned on Monday as the U.S. Commodity Futures Trading Commission chose not to extend a review of the closures, according to the agency.

A small group of Chicago traders and brokers last month asked the CFTC to open a 90-day review of the planned closure of the pits.

The CME is closing its historic futures pits in Chicago and New York because of dwindling open-outcry volume as the industry increasingly moves toward screen trading.

Reporting by Tom Polansek; Editing by Matthew Lewis

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