CME’s futures pit closures delayed to July 6 or later

Chicago | Reuters –– CME Group said Tuesday it will delay the closure of its open-outcry futures markets in Chicago and New York by at least one trading day due to a technical revision in its filing with the U.S. Commodity Futures Trading Commission.

The final open-outcry session is now expected to be on July 6, not July 2 as previously announced, pending the expiration of the regulator’s review period.

The CFTC could also delay the pits’ closure by up to 90 days, CME said in a release.

CME, which operates the CBOT, CME, NYMEX and COMEX exchanges, said in February it would close its open-outcry futures trading, citing trading floor volumes that had fallen to just one per cent of CME’s total futures volume.

Reporting for Reuters by Karl Plume in Chicago. Includes files from Network staff.

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