Launching an open-outcry trading floor? How very 21st century
Quote:
Box Options Exchange is building the first new trading floor in Chicago in decades, bucking a trend of shrinking and shuttering pits nationwide.
Over the past 20 years, major exchanges such as Chicago operators CBOE Holdings and CME Group have closed pits in favor of more efficient and transparent electronic systems. “Many people would like to see less floor trading rather than more, and I wouldn't rule myself out,” says Ed Boyle, CEO of parent Box Holdings Group. “But the fact of the matter is, there are some types of trades that are better suited to the floor.”...
|
Interesting. Had never even heard of these cats.
The adoption of electronic options trading and migration of trading firm order entry from pit to data center has consistently lagged futures trading. Options are not for the faint of heart.