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Chicago Says Goodbye to CME’s Last Commodity Trading Pits

  • CME Group had closed open-outcry options pits amid pandemic
  • The commodities options pits will now be closed permanently
Traders work in the corn options trading pit of the CME Group’s Chicago Board of Trade in Chicago in 2012.
Traders work in the corn options trading pit of the CME Group’s Chicago Board of Trade in Chicago in 2012.Photographer: Tim Boyle/Bloomberg
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It’s the end of an era for open outcry commodities trading, made famous by the film “Trading Places” with Eddie Murphy and Dan Aykroyd.

The CME Group Inc. said Tuesday that its last few remaining pits in Chicago where agricultural commodities options traders still yelled their bids will be close permanently. Futures transactions had already been fully replaced by electronic trading, while options pits had been active until March 2020, when Covid-19 measures forced them to be closed.