For Cryin’ Out Loud: On the Floor of the Chicago Board of Trade
Today marks the end of an era for the Chicago Mercantile Exchange and the Chicago Board of Trade (CME merged with CBOT in 2007). For more than 160 years, the open outcry pits were a raucous and noisy place where people in colorful jackets jockeyed and shouted orders for commodities like corn, cattle, and pork bellies. Today, 99% of trading volume occurs electronically and all but one of the futures pits have been closed. During its heyday, the noise on […]