-
Chicago Merc hand signals: Dying art
Former CME trader Ryan Carlson explains some of the hand signals used on the floor.
published: 21 Jul 2010
-
What is Chicago Mercantile Exchange?
🔻 Description and useful links below 🔻
Become a trader with FIBO Group! Start trading without risk https://www.fibogroup.com/
Trading platforms for desktops and mobile devices https://www.fibogroup.com/products/platforms/
Trading Terms: https://www.fibogroup.com/products/account-types/
What is Chicago Mercantile Exchange? Let's talk about it in 60 seconds. You can read a detailed description under the video.
The Chicago Mercantile Exchange (CME) is one of the largest and oldest exchanges in the world, where futures contracts for currencies, agricultural products, metals, fuels, and more are traded.
CME trades about 30 different options and about 50 foreign exchange futures.
Transactions worth $ 100 billion are held on the exchange every day. The total trade on CME exceeds 500 million ...
published: 24 Nov 2020
-
Chicago Mercantile Exchange
A peek into the Chicago Mercantile Exchange, where cattle futures stand in for cattle.
Subject Areas:
■ Business
■ Economics
■ Government
■ Mathematics
■ Technology
Topics:
■ Chicago Mercantile Exchange
■ Money
■ Futures Trading
Want more great FREE educational stuff to go with this video? Head over to ➡️ https://www.izzit.org and use our online quizzes, teacher tools and find additional educational resources and more!
Check out our Facebook page here: https://www.facebook.com/izzit
Visit our other educational programs here: https://www.izzit.org/products/index.php
Make sure you enroll as an izzit.org member to receive your FREE teacher resources, click here to sign up now: https://www.izzit.org/join/index.php
You can Tweet at us here: https://twitter.com/izzit_org
published: 13 Aug 2018
-
Chicago Mercantile Exchange: Definition, History, and Regulation
The Chicago Mercantile Exchange, also known as the CME, is an organized exchange for trading futures and options across various sectors. It was originally focused on agricultural products but expanded to include financial assets. In 2007, it merged with the Chicago Board of Trade to create CME Group, one of the largest financial exchange operators in the world.
ae7f
published: 23 Dec 2023
-
Chicago Mercantile Exchange
The Chicago Mercantile Exchange (CME), colloquially known as the Chicago Merc, is an organized exchange for the trading of futures and options. The CME trades futures, and in most cases options, in the sectors of agriculture, energy, stock indices, foreign exchange, interest rates, metals, real estate, and even weather.
https://www.cmegroup.com/
published: 29 Oct 2020
-
The Chicago Mercantile Exchange (CME) News | CME Becomes Top Bitcoin Futures Exchange Behind Binance
The Chicago Mercantile Exchange (CME) has surged to become the second-largest Bitcoin futures exchange by open interest, behind only Binance. This is a significant milestone for the CME, as it reflects the growing institutional interest in Bitcoin and the growing acceptance of Bitcoin as a legitimate asset class.
What is the CME?
The CME is the world's largest derivatives exchange, offering contracts on a wide range of assets, including commodities, currencies, and stock indexes. It is a regulated exchange, which means that it is subject to strict oversight by the US government.
Why are institutional investors flocking to CME Bitcoin futures?
There are a number of reasons why institutional investors are flocking to CME Bitcoin futures. First, CME is a trusted and regulated exchange. Th...
published: 31 Oct 2023
-
The Changing Face of Commodity Trading
Open outcry was the rule for nearly 150 years at the world's oldest futures exchange. In 2007, that all changed when the Chicago Mercantile Exchange merged with the Chicago Board of Trade to form the CME Group. http://www.iptv.org/mtom
published: 11 Apr 2014
-
Chicago Mercantile Exchange (CME) - FX Block Trading
This YouTube Channel is operated by Treasury Consulting Group (TCG) and covers knowledge videos. You are most welcome to connect with us at + 91 9899242978 or rahul.magan@treasuryconsulting.in or refer to our Fixed Income Platform - www.fixedincome.global
Best,
Rahul Magan
published: 20 Apr 2019
-
Andreas Gursky 'Chicago Mercantile Exchange', 1997
“Gurksy’s work engages you with monumental scale. It allows viewers to insert themselves into the scene he has choreographed in front of you but also to take a position as a viewer from above, looking own on the scene with a god-like perspective on the work. He captures the human-ness, but still retains a very objective composition." Phillips' Deputy Chairman of Europe & Asia Matt Carey-Williams presents Andreas Gursky 'Chicago, Mercantile Exchange', 1997 to be offered in our Contemporary Art Evening Sale on 29 June in London.
See this work: phillips.com/detail/ANDREAS-GURSKY/UK010415/17
Produced by Phillips (2015)
published: 14 Sep 2015
-
Chicago Mercantile Exchange - Chicago Board of Trade Financial Trading Floor aka The Pit
According to Wikipedia...
The Chicago Board of Trade (CBOT), established in 1848, is the world's oldest futures and options exchange[citation needed]. More than 50 different options and futures contracts are traded by over 3,600 CBOT members through open outcry and electronic trading. Volumes at the exchange in 2003 were a record breaking 454 million contracts. On 12 July 2007, the CBOT merged with the Chicago Mercantile Exchange (CME) to form the CME Group, a CME/Chicago Board of Trade Company. CBOT and three other exchanges (CME, NYMEX, and COMEX) now operate as designated contract markets (DCM) of the CME Group.
Since 1930, the Chicago Board of Trade has been operating out of 141 West Jackson Boulevard, Chicago, in a building designed by architects Holabird & Root that is 605 feet (18...
published: 28 Jan 2014
2:02
Chicago Merc hand signals: Dying art
Former CME trader Ryan Carlson explains some of the hand signals used on the floor.
Former CME trader Ryan Carlson explains some of the hand signals used on the floor.
https://wn.com/Chicago_Merc_Hand_Signals_Dying_Art
Former CME trader Ryan Carlson explains some of the hand signals used on the floor.
- published: 21 Jul 2010
- views: 145822
1:45
What is Chicago Mercantile Exchange?
🔻 Description and useful links below 🔻
Become a trader with FIBO Group! Start trading without risk https://www.fibogroup.com/
Trading platforms for desktops an...
🔻 Description and useful links below 🔻
Become a trader with FIBO Group! Start trading without risk https://www.fibogroup.com/
Trading platforms for desktops and mobile devices https://www.fibogroup.com/products/platforms/
Trading Terms: https://www.fibogroup.com/products/account-types/
What is Chicago Mercantile Exchange? Let's talk about it in 60 seconds. You can read a detailed description under the video.
The Chicago Mercantile Exchange (CME) is one of the largest and oldest exchanges in the world, where futures contracts for currencies, agricultural products, metals, fuels, and more are traded.
CME trades about 30 different options and about 50 foreign exchange futures.
Transactions worth $ 100 billion are held on the exchange every day. The total trade on CME exceeds 500 million contracts.
Most of the contracts are concluded on futures, about a third - on options.
In total, the following assets are presented on CME:
1. Classic (traditional) commodity contracts for agricultural and livestock products such as meat, milk or wheat.
2. Stock indices. For example S&P 500, NASDAQ or Dow Jones.
3. Interest rates on major currency pairs.
4. Currency of leading world states and popular cryptocurrencies in the world.
5. Metals. This includes both spot metals and base metals.
6. Energy carriers. Oil, gas, coal and almost all types of fuel.
7. Alternative types of investments and options of the OTC market.
8. Real estate. Usually this means real estate in elite areas.
If you liked the explanation, like and subscribe to the FIBO Group channel!
Simple, clear and accessible about financial analysis and latest market reviews in our social networks:
Live Broadcasts: https://www.youtube.com/channel/UCfDfgpg8lEOBkyzHQZ8RuZg
Facebook: https://www.facebook.com/FIBOGroup.Global/
Instagram: https://www.instagram.com/fibo_group_forex_broker/
Telegram: https://t.me/FIBOGroupGlobal
#forex #fibogroup #forextrading #trading #trader #makemoney #finance #forextrader #workfromhome #fibo #traderlife #investing #money #makemoney #traderlife
https://wn.com/What_Is_Chicago_Mercantile_Exchange
🔻 Description and useful links below 🔻
Become a trader with FIBO Group! Start trading without risk https://www.fibogroup.com/
Trading platforms for desktops and mobile devices https://www.fibogroup.com/products/platforms/
Trading Terms: https://www.fibogroup.com/products/account-types/
What is Chicago Mercantile Exchange? Let's talk about it in 60 seconds. You can read a detailed description under the video.
The Chicago Mercantile Exchange (CME) is one of the largest and oldest exchanges in the world, where futures contracts for currencies, agricultural products, metals, fuels, and more are traded.
CME trades about 30 different options and about 50 foreign exchange futures.
Transactions worth $ 100 billion are held on the exchange every day. The total trade on CME exceeds 500 million contracts.
Most of the contracts are concluded on futures, about a third - on options.
In total, the following assets are presented on CME:
1. Classic (traditional) commodity contracts for agricultural and livestock products such as meat, milk or wheat.
2. Stock indices. For example S&P 500, NASDAQ or Dow Jones.
3. Interest rates on major currency pairs.
4. Currency of leading world states and popular cryptocurrencies in the world.
5. Metals. This includes both spot metals and base metals.
6. Energy carriers. Oil, gas, coal and almost all types of fuel.
7. Alternative types of investments and options of the OTC market.
8. Real estate. Usually this means real estate in elite areas.
If you liked the explanation, like and subscribe to the FIBO Group channel!
Simple, clear and accessible about financial analysis and latest market reviews in our social networks:
Live Broadcasts: https://www.youtube.com/channel/UCfDfgpg8lEOBkyzHQZ8RuZg
Facebook: https://www.facebook.com/FIBOGroup.Global/
Instagram: https://www.instagram.com/fibo_group_forex_broker/
Telegram: https://t.me/FIBOGroupGlobal
#forex #fibogroup #forextrading #trading #trader #makemoney #finance #forextrader #workfromhome #fibo #traderlife #investing #money #makemoney #traderlife
- published: 24 Nov 2020
- views: 4123
1:23
Chicago Mercantile Exchange
A peek into the Chicago Mercantile Exchange, where cattle futures stand in for cattle.
Subject Areas:
■ Business
■ Economics
■ Government
■ Mathematics
■ Techn...
A peek into the Chicago Mercantile Exchange, where cattle futures stand in for cattle.
Subject Areas:
■ Business
■ Economics
■ Government
■ Mathematics
■ Technology
Topics:
■ Chicago Mercantile Exchange
■ Money
■ Futures Trading
Want more great FREE educational stuff to go with this video? Head over to ➡️ https://www.izzit.org and use our online quizzes, teacher tools and find additional educational resources and more!
Check out our Facebook page here: https://www.facebook.com/izzit
Visit our other educational programs here: https://www.izzit.org/products/index.php
Make sure you enroll as an izzit.org member to receive your FREE teacher resources, click here to sign up now: https://www.izzit.org/join/index.php
You can Tweet at us here: https://twitter.com/izzit_org
https://wn.com/Chicago_Mercantile_Exchange
A peek into the Chicago Mercantile Exchange, where cattle futures stand in for cattle.
Subject Areas:
■ Business
■ Economics
■ Government
■ Mathematics
■ Technology
Topics:
■ Chicago Mercantile Exchange
■ Money
■ Futures Trading
Want more great FREE educational stuff to go with this video? Head over to ➡️ https://www.izzit.org and use our online quizzes, teacher tools and find additional educational resources and more!
Check out our Facebook page here: https://www.facebook.com/izzit
Visit our other educational programs here: https://www.izzit.org/products/index.php
Make sure you enroll as an izzit.org member to receive your FREE teacher resources, click here to sign up now: https://www.izzit.org/join/index.php
You can Tweet at us here: https://twitter.com/izzit_org
- published: 13 Aug 2018
- views: 15178
2:22
Chicago Mercantile Exchange: Definition, History, and Regulation
The Chicago Mercantile Exchange, also known as the CME, is an organized exchange for trading futures and options across various sectors. It was originally focus...
The Chicago Mercantile Exchange, also known as the CME, is an organized exchange for trading futures and options across various sectors. It was originally focused on agricultural products but expanded to include financial assets. In 2007, it merged with the Chicago Board of Trade to create CME Group, one of the largest financial exchange operators in the world.
ae7f
https://wn.com/Chicago_Mercantile_Exchange_Definition,_History,_And_Regulation
The Chicago Mercantile Exchange, also known as the CME, is an organized exchange for trading futures and options across various sectors. It was originally focused on agricultural products but expanded to include financial assets. In 2007, it merged with the Chicago Board of Trade to create CME Group, one of the largest financial exchange operators in the world.
ae7f
- published: 23 Dec 2023
- views: 70
11:14
Chicago Mercantile Exchange
The Chicago Mercantile Exchange (CME), colloquially known as the Chicago Merc, is an organized exchange for the trading of futures and options. The CME trades f...
The Chicago Mercantile Exchange (CME), colloquially known as the Chicago Merc, is an organized exchange for the trading of futures and options. The CME trades futures, and in most cases options, in the sectors of agriculture, energy, stock indices, foreign exchange, interest rates, metals, real estate, and even weather.
https://www.cmegroup.com/
https://wn.com/Chicago_Mercantile_Exchange
The Chicago Mercantile Exchange (CME), colloquially known as the Chicago Merc, is an organized exchange for the trading of futures and options. The CME trades futures, and in most cases options, in the sectors of agriculture, energy, stock indices, foreign exchange, interest rates, metals, real estate, and even weather.
https://www.cmegroup.com/
- published: 29 Oct 2020
- views: 1957
1:26
The Chicago Mercantile Exchange (CME) News | CME Becomes Top Bitcoin Futures Exchange Behind Binance
The Chicago Mercantile Exchange (CME) has surged to become the second-largest Bitcoin futures exchange by open interest, behind only Binance. This is a signific...
The Chicago Mercantile Exchange (CME) has surged to become the second-largest Bitcoin futures exchange by open interest, behind only Binance. This is a significant milestone for the CME, as it reflects the growing institutional interest in Bitcoin and the growing acceptance of Bitcoin as a legitimate asset class.
What is the CME?
The CME is the world's largest derivatives exchange, offering contracts on a wide range of assets, including commodities, currencies, and stock indexes. It is a regulated exchange, which means that it is subject to strict oversight by the US government.
Why are institutional investors flocking to CME Bitcoin futures?
There are a number of reasons why institutional investors are flocking to CME Bitcoin futures. First, CME is a trusted and regulated exchange. This gives institutional investors confidence that their trades will be executed fairly and that their funds are safe.
Second, CME offers cash-settled Bitcoin futures contracts. This means that institutional investors do not need to take on the risk of holding Bitcoin directly.
Third, CME offers standard and micro-sized Bitcoin futures contracts. This gives institutional investors the flexibility to choose the contract size that best suits their needs.
What does this mean for the future of Bitcoin?
The CME's rise to the top of the Bitcoin futures market is a positive sign for the future of Bitcoin. It shows that institutional investors are increasingly interested in Bitcoin and that they are seeing Bitcoin as a legitimate asset class.
This is likely to lead to more investment in Bitcoin, which could drive up the price of Bitcoin in the long term.
Conclusion:
The CME's rise to the top of the Bitcoin futures market is a significant event for the cryptocurrency industry. It is a sign of the growing institutional interest in Bitcoin and the growing acceptance of Bitcoin as a legitimate asset class.
This is likely to have a positive impact on the price of Bitcoin in the long term.
The Chicago Mercantile Exchange (CME) News | CME Becomes Top Bitcoin Futures Exchange Behind Binance
The Chicago Mercantile Exchange (CME) News
The Chicago Mercantile Exchange
The Chicago Mercantile Exchange (CME)
CME Crypto Exchange
CME Exchange
CME Becomes Top Bitcoin Futures Exchange Behind Binance
Top Bitcoin Futures Exchange
Top Bitcoin Futures Exchange News
Bitcoin Futures Exchange
CME Bitcoin futures contracts
CME Bitcoin futures market poised to explode
CME
crypto mash
crypto mash news
crypto mash news today
Crypto Mash Podcast
English
Crypto Podcast
Podcast
crypto
crypto news
crypto news today
cryptocurrency
cryptocurrency news
cryptocurrency news today
Coin Bureau
BitBoy Crypto
Altcoin Daily
Benjamin Cowen
Telegram Channel Link: https://t.me/CryptoMashNews
Disclaimer – We make videos to educate people, so if you decide to invest after watching our video, we will not be liable for any profit or loss encountered by you in the process.
DISCLAIMER:
"Copyright Disclaimer under Section 107 of the Copyright Act 1976, allowance is made for fair use for purposes such as criticism, comment, news reporting, scholarship, and research. Fair use is permitted by a copyright statute that might otherwise be infringing.
==================================
#CMEBitcoinFutures #CMEOpenInterest #CMETradingVolume #CMEBitcoins #BitcoinFutures
https://wn.com/The_Chicago_Mercantile_Exchange_(Cme)_News_|_Cme_Becomes_Top_Bitcoin_Futures_Exchange_Behind_Binance
The Chicago Mercantile Exchange (CME) has surged to become the second-largest Bitcoin futures exchange by open interest, behind only Binance. This is a significant milestone for the CME, as it reflects the growing institutional interest in Bitcoin and the growing acceptance of Bitcoin as a legitimate asset class.
What is the CME?
The CME is the world's largest derivatives exchange, offering contracts on a wide range of assets, including commodities, currencies, and stock indexes. It is a regulated exchange, which means that it is subject to strict oversight by the US government.
Why are institutional investors flocking to CME Bitcoin futures?
There are a number of reasons why institutional investors are flocking to CME Bitcoin futures. First, CME is a trusted and regulated exchange. This gives institutional investors confidence that their trades will be executed fairly and that their funds are safe.
Second, CME offers cash-settled Bitcoin futures contracts. This means that institutional investors do not need to take on the risk of holding Bitcoin directly.
Third, CME offers standard and micro-sized Bitcoin futures contracts. This gives institutional investors the flexibility to choose the contract size that best suits their needs.
What does this mean for the future of Bitcoin?
The CME's rise to the top of the Bitcoin futures market is a positive sign for the future of Bitcoin. It shows that institutional investors are increasingly interested in Bitcoin and that they are seeing Bitcoin as a legitimate asset class.
This is likely to lead to more investment in Bitcoin, which could drive up the price of Bitcoin in the long term.
Conclusion:
The CME's rise to the top of the Bitcoin futures market is a significant event for the cryptocurrency industry. It is a sign of the growing institutional interest in Bitcoin and the growing acceptance of Bitcoin as a legitimate asset class.
This is likely to have a positive impact on the price of Bitcoin in the long term.
The Chicago Mercantile Exchange (CME) News | CME Becomes Top Bitcoin Futures Exchange Behind Binance
The Chicago Mercantile Exchange (CME) News
The Chicago Mercantile Exchange
The Chicago Mercantile Exchange (CME)
CME Crypto Exchange
CME Exchange
CME Becomes Top Bitcoin Futures Exchange Behind Binance
Top Bitcoin Futures Exchange
Top Bitcoin Futures Exchange News
Bitcoin Futures Exchange
CME Bitcoin futures contracts
CME Bitcoin futures market poised to explode
CME
crypto mash
crypto mash news
crypto mash news today
Crypto Mash Podcast
English
Crypto Podcast
Podcast
crypto
crypto news
crypto news today
cryptocurrency
cryptocurrency news
cryptocurrency news today
Coin Bureau
BitBoy Crypto
Altcoin Daily
Benjamin Cowen
Telegram Channel Link: https://t.me/CryptoMashNews
Disclaimer – We make videos to educate people, so if you decide to invest after watching our video, we will not be liable for any profit or loss encountered by you in the process.
DISCLAIMER:
"Copyright Disclaimer under Section 107 of the Copyright Act 1976, allowance is made for fair use for purposes such as criticism, comment, news reporting, scholarship, and research. Fair use is permitted by a copyright statute that might otherwise be infringing.
==================================
#CMEBitcoinFutures #CMEOpenInterest #CMETradingVolume #CMEBitcoins #BitcoinFutures
- published: 31 Oct 2023
- views: 36
7:46
The Changing Face of Commodity Trading
Open outcry was the rule for nearly 150 years at the world's oldest futures exchange. In 2007, that all changed when the Chicago Mercantile Exchange merged wi...
Open outcry was the rule for nearly 150 years at the world's oldest futures exchange. In 2007, that all changed when the Chicago Mercantile Exchange merged with the Chicago Board of Trade to form the CME Group. http://www.iptv.org/mtom
https://wn.com/The_Changing_Face_Of_Commodity_Trading
Open outcry was the rule for nearly 150 years at the world's oldest futures exchange. In 2007, that all changed when the Chicago Mercantile Exchange merged with the Chicago Board of Trade to form the CME Group. http://www.iptv.org/mtom
- published: 11 Apr 2014
- views: 38258
15:42
Chicago Mercantile Exchange (CME) - FX Block Trading
This YouTube Channel is operated by Treasury Consulting Group (TCG) and covers knowledge videos. You are most welcome to connect with us at + 91 9899242978 or r...
This YouTube Channel is operated by Treasury Consulting Group (TCG) and covers knowledge videos. You are most welcome to connect with us at + 91 9899242978 or rahul.magan@treasuryconsulting.in or refer to our Fixed Income Platform - www.fixedincome.global
Best,
Rahul Magan
https://wn.com/Chicago_Mercantile_Exchange_(Cme)_Fx_Block_Trading
This YouTube Channel is operated by Treasury Consulting Group (TCG) and covers knowledge videos. You are most welcome to connect with us at + 91 9899242978 or rahul.magan@treasuryconsulting.in or refer to our Fixed Income Platform - www.fixedincome.global
Best,
Rahul Magan
- published: 20 Apr 2019
- views: 1022
2:05
Andreas Gursky 'Chicago Mercantile Exchange', 1997
“Gurksy’s work engages you with monumental scale. It allows viewers to insert themselves into the scene he has choreographed in front of you but also to take a ...
“Gurksy’s work engages you with monumental scale. It allows viewers to insert themselves into the scene he has choreographed in front of you but also to take a position as a viewer from above, looking own on the scene with a god-like perspective on the work. He captures the human-ness, but still retains a very objective composition." Phillips' Deputy Chairman of Europe & Asia Matt Carey-Williams presents Andreas Gursky 'Chicago, Mercantile Exchange', 1997 to be offered in our Contemporary Art Evening Sale on 29 June in London.
See this work: phillips.com/detail/ANDREAS-GURSKY/UK010415/17
Produced by Phillips (2015)
https://wn.com/Andreas_Gursky_'Chicago_Mercantile_Exchange',_1997
“Gurksy’s work engages you with monumental scale. It allows viewers to insert themselves into the scene he has choreographed in front of you but also to take a position as a viewer from above, looking own on the scene with a god-like perspective on the work. He captures the human-ness, but still retains a very objective composition." Phillips' Deputy Chairman of Europe & Asia Matt Carey-Williams presents Andreas Gursky 'Chicago, Mercantile Exchange', 1997 to be offered in our Contemporary Art Evening Sale on 29 June in London.
See this work: phillips.com/detail/ANDREAS-GURSKY/UK010415/17
Produced by Phillips (2015)
- published: 14 Sep 2015
- views: 1620
0:33
Chicago Mercantile Exchange - Chicago Board of Trade Financial Trading Floor aka The Pit
According to Wikipedia...
The Chicago Board of Trade (CBOT), established in 1848, is the world's oldest futures and options exchange[citation needed]. More tha...
According to Wikipedia...
The Chicago Board of Trade (CBOT), established in 1848, is the world's oldest futures and options exchange[citation needed]. More than 50 different options and futures contracts are traded by over 3,600 CBOT members through open outcry and electronic trading. Volumes at the exchange in 2003 were a record breaking 454 million contracts. On 12 July 2007, the CBOT merged with the Chicago Mercantile Exchange (CME) to form the CME Group, a CME/Chicago Board of Trade Company. CBOT and three other exchanges (CME, NYMEX, and COMEX) now operate as designated contract markets (DCM) of the CME Group.
Since 1930, the Chicago Board of Trade has been operating out of 141 West Jackson Boulevard, Chicago, in a building designed by architects Holabird & Root that is 605 feet (184 m) tall, the tallest in Chicago until the Richard J. Daley Center superseded it in 1965. This Art Deco building incorporates sculptural work by Alvin Meyer and is capped by a 31 foot (9.5 m) tall statue of the Roman goddess Ceres in reference to the exchange's heritage as a commodity market. Ceres is faceless because its sculptor, John Storrs, believed that the forty-five story building would be sufficiently taller than any other nearby structure and as a result that no one would be able to see the sculpture's face anyway.
On May 4, 1977, the Chicago Board of Trade Building was designated a Chicago Landmark. The building is now a National Historic Landmark. Today the Board of Trade Building is closely joined by numerous skyscrapers in the heart of Chicago's busy Loop commercial neighborhood.
The pit is a raised octagonal structure where open-outcry trading takes place. Operating during regular trading hours (RTH), the CBOT trading floor contains many such pits.
The steps up on the outside of the octagon and the steps down on the inside give the pit something of the appearance of an amphitheater, and allow hundreds of traders to see and hear each other during trading hours. The importance of the pit and pit trading is emphasized by the use of a stylized pit as the logo of the CBOT. The Pit is also the title and subject of a classic novel (1903) by Frank Norris.
Trades are made in the pits by bidding or offering a price and quantity of contracts, depending on the intention to buy (bid) or sell (offer).
This is generally done by using a physical representation of a trader's intentions with his hands. If a trader wants to buy ten contracts at a price of eight, for example, in the pit he would yell "8 for 10", stating price before quantity, and turn his palm inward toward his face, putting his index finger to his forehead denoting ten; if he were to be buying one, he would place his index finger on his chin. If the trader wants to sell five contracts at a price of eight, they would yell "5 at 8", stating quantity before price, and show one hand with palm facing outward, showing 5 fingers. The combination of hand-signals and vocal representation between the way a trader expresses bids and offers is a protection against misinterpretation by other market participants. For historical purposes, an illustrated project to record the hand signal language used in CBOT's trading pits has been compiled and published.
With the rise of electronic trading the importance of the pit has decreased substantially for many contracts though the pit remains the best place to get complex option spreads filled.
https://wn.com/Chicago_Mercantile_Exchange_Chicago_Board_Of_Trade_Financial_Trading_Floor_Aka_The_Pit
According to Wikipedia...
The Chicago Board of Trade (CBOT), established in 1848, is the world's oldest futures and options exchange[citation needed]. More than 50 different options and futures contracts are traded by over 3,600 CBOT members through open outcry and electronic trading. Volumes at the exchange in 2003 were a record breaking 454 million contracts. On 12 July 2007, the CBOT merged with the Chicago Mercantile Exchange (CME) to form the CME Group, a CME/Chicago Board of Trade Company. CBOT and three other exchanges (CME, NYMEX, and COMEX) now operate as designated contract markets (DCM) of the CME Group.
Since 1930, the Chicago Board of Trade has been operating out of 141 West Jackson Boulevard, Chicago, in a building designed by architects Holabird & Root that is 605 feet (184 m) tall, the tallest in Chicago until the Richard J. Daley Center superseded it in 1965. This Art Deco building incorporates sculptural work by Alvin Meyer and is capped by a 31 foot (9.5 m) tall statue of the Roman goddess Ceres in reference to the exchange's heritage as a commodity market. Ceres is faceless because its sculptor, John Storrs, believed that the forty-five story building would be sufficiently taller than any other nearby structure and as a result that no one would be able to see the sculpture's face anyway.
On May 4, 1977, the Chicago Board of Trade Building was designated a Chicago Landmark. The building is now a National Historic Landmark. Today the Board of Trade Building is closely joined by numerous skyscrapers in the heart of Chicago's busy Loop commercial neighborhood.
The pit is a raised octagonal structure where open-outcry trading takes place. Operating during regular trading hours (RTH), the CBOT trading floor contains many such pits.
The steps up on the outside of the octagon and the steps down on the inside give the pit something of the appearance of an amphitheater, and allow hundreds of traders to see and hear each other during trading hours. The importance of the pit and pit trading is emphasized by the use of a stylized pit as the logo of the CBOT. The Pit is also the title and subject of a classic novel (1903) by Frank Norris.
Trades are made in the pits by bidding or offering a price and quantity of contracts, depending on the intention to buy (bid) or sell (offer).
This is generally done by using a physical representation of a trader's intentions with his hands. If a trader wants to buy ten contracts at a price of eight, for example, in the pit he would yell "8 for 10", stating price before quantity, and turn his palm inward toward his face, putting his index finger to his forehead denoting ten; if he were to be buying one, he would place his index finger on his chin. If the trader wants to sell five contracts at a price of eight, they would yell "5 at 8", stating quantity before price, and show one hand with palm facing outward, showing 5 fingers. The combination of hand-signals and vocal representation between the way a trader expresses bids and offers is a protection against misinterpretation by other market participants. For historical purposes, an illustrated project to record the hand signal language used in CBOT's trading pits has been compiled and published.
With the rise of electronic trading the importance of the pit has decreased substantially for many contracts though the pit remains the best place to get complex option spreads filled.
- published: 28 Jan 2014
- views: 4270