Citigroup Inc. is moving employees on the Chicago Board of Trade’s grain and financial floors to its office in Chicago, according to a person briefed on the decision who asked not to be named because it isn’t public.
The bank has a sales staff there of about 20 people who handle transactions in interest-rate products, equities and commodities, Reuters reported earlier today, citing an unidentified person familiar with the plan. Most of the workers will keep their jobs, the publication said.
Firms have moved trading personnel off the floor amid a shift in transactions to electronic platforms.
“Citi is committed to the futures business and we will continue to be an active market participant in the sector,” said Scott Helfman, a spokesman for the New York-based firm, in an e-mailed statement.