May 16, 2008
End Of An Era For Chicago Mercantile Exchange
“Many people have tried to predict the demise of the trading floor over the years, and each and every one has been wrong.”
The Chicago Mercantile Exchange marked a milestone in its 110-year history Friday as the last floor traders wrapped up business at the building that has served as the Merc's home since 1983.
Starting Monday, all open-outcry trading of the CME Group Inc.-owned Merc will take place five blocks away in the ornate Chicago Board of Trade building.
The move is a result of CME's $11.9 billion acquisition of the Board of Trade last year, which combined operations of the two longtime rival exchanges. Read more
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