CME Group to Reopen Eurodollar Options Trading Pit in August

As the world starts to slowly reopen following the coronavirus pandemic, CME Group announced today in Chicago that it will be reopening its Eurodollar options trading pit on the 10th of August.

In the lead up to this date, CME Group will be reshuffling the pit in order for it to meet social distancing standards, the company said. Furthermore, it will put in place additional safety measures, however, the exchange operator has not elaborated on what these might be.

Although the Eurodollar options trading pit will open in August, the other open outcry trading pits will remain closed by the CME Group until the City of Chicago and the State of Illinois reach Phase 5 of their reopening plans, the US derivatives giant said in its statement.

“Additional Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term requirements and procedures for accessing the trading floor will be forthcoming. As the 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 crisis remains fluid, the company will continue to monitor the situation and communicate any changes as needed. All products, including Eurodollar options, will continue to trade on CME Globex,” CME Group said in the statement.

CME Group closed trading floor in March

Earlier this year, CME closed its trading floor in Chicago as of the close of business on Friday, the 13th of March 2020. The decision was made in line with medical advice, the company said at the time.

As Finance Magnates reported, people familiar with the matter said 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.

COVID-19 cases continued to climb in the US

The announcement from CME comes as COVID-19 cases have jumped in 22 states within the United States, as protests and relaxing restrictions have lead to a spike in cases. At the time of publishing, there are 2,045,549 cases in the United States, according to Worldometer. The Centers for Disease Control and Prevention (CDC) website states that there were 1,956,421 cases as of the 9th of June, 2020.