CME Group’s Chicago Trading Floor to Close

As a precaution to reduce large gatherings contributing to the spread of Coronavirus Coronavirus The outbreak of Covid-19 or Coronavirus in early 2020 has since redefined the financial services industry. Brokers have been forced to quickly adapt to several changes, both positive and negative.This includes the FX industry, which saw surges in volumes across the retail and institutional space in Q1 2020. This trend can be explained by an outflow of volatility, coupled with countries taking major moves to stabilize their respective economies.In conjunction with uncertainty caused by the virus, The outbreak of Covid-19 or Coronavirus in early 2020 has since redefined the financial services industry. Brokers have been forced to quickly adapt to several changes, both positive and negative.This includes the FX industry, which saw surges in volumes across the retail and institutional space in Q1 2020. This trend can be explained by an outflow of volatility, coupled with countries taking major moves to stabilize their respective economies.In conjunction with uncertainty caused by the virus, Read this Term, US derivatives giant CME Group is set to close its trading floor in Chicago as of the close of business Friday, March 13, the firm has announced.

The decision was made in line with the advice of medical professionals.

All products will continue to trade on CME Globex as they do today, according to the firm’s statement.

People familiar with the matter say that while trading of the company’s futures products will go on electronically, the current situation hastens an existing industry trend of shifting trading from trading floors to computer screens.

“No coronavirus cases have been reported on the trading floor or in the Chicago Board of Trade building. The reopening of the trading floor will be evaluated as more medical guidance on the coronavirus becomes available. The company’s headquarters at 20S Wacker Drive will remain open,” CME said in its statement.

Tomorrow, the trading floor community will receive an additional Q&A related to the Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term of certain floor products, procedures, and protocols, as well as other floor-related messages, according to the statement.

Markets tumble

As the number of confirmed cases of COVID-19 in New York and London rise, the operation of large crowded trading floors has started to look increasingly difficult.

Banks are forced to find other options to keep trading going, while global stock markets post steepest falls since the financial crisis in 2008.

CME’s announcement follows the decision of several companies to advise employees to work from home in order to prevent contagion from the virus.