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CME Group Inc

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  • Technology, progress bypass Chicago's pit traders Thursday, 2 Jul 2015 | 7:17 PM ET

    CHICAGO, July 2 (Reuters)- Technology has long benefited Chicago's futures exchanges, historians say, even though electronic trading is the final blow for its human brokers, rendering obsolete the "open-outcry" futures pits on the trading floor where they have worked for generations. The rough-and-tumble times of the floor were an iconic part of Chicago, and...

  • (For more Reuters coverage of the closing of Chicago's open-outcry futures pits, please see "Chicago Pits: End of an Era," ( http://www.reuters.com/subjects/chicago-pits-close). CHICAGO, July 2 (Reuters)- The cost of membership at Chicago's famous futures trading exchanges has topped $1 million in the past as traders snapped up the chance for benefits like...

  • CHICAGO, July 2 (Reuters)- Thomas Cashman was not long out of law school when his dad, Tom, brought him to the Chicago Board of Trade soybean pit in 1994. The two spent the next 10 years trading side by side, until Thomas moved upstairs to begin trading on computer screens. He later bought seats for his brothers Gene and Ed, both Chicago policemen at the time.

  • CHICAGO, July 1 (Reuters)- For many Chicago commodity traders like Redmond Harkins, little will change when the city's fabled futures pits shut down after more than 165 years of open-outcry dealing. The 27- year veteran dealer will continue taking the hour-long train trip to the storied Art Deco Chicago Board of Trade building on West Jackson Boulevard, where...

  • NEW YORK, July 1 (Reuters)- U.S. commodities brokerages- a key focus of reforms designed to make the financial system safer- are increasingly struggling to eke out a profit, spurring many firms to think about leaving the business, or trying to boost commissions. The vanishing FCMs are one way the futures trading business is changing in the United States.

  • CHICAGO, June 30- U.S. grain and soybean futures on Tuesday climbed to their highest prices since December after the U.S. Agriculture Department said crop stockpiles and spring plantings were smaller than analysts expected. U.S. corn and soybean stocks as of June 1 were up from a year ago, after record-large harvests last year, but below market forecasts due to...

  • CHICAGO, June 25- U.S. regulators will likely allow CME Group Inc to close most of its open outcry futures pits as planned next month, despite last-minute calls from a handful of traders and brokers for an extended review, industry lawyers said on Thursday. "This controversy is best addressed during an open comment period in which all interested parties can...

  • CHICAGO, June 24- CME Group Inc's plan to close most of its futures pits next month is facing its first organized opposition from a small group of Chicago traders and brokers who have hired a law firm to push regulators to give more time for review. Lawyers from Katten Muchin Rosenman sent a letter to the Commodity Futures Trading Commission on behalf of the group,...

  • CHICAGO, June 24- As the July 6 deadline for closing the century-old Chicago Board of Trade grain futures pits looms, a cloud hangs over the future of the neighboring options pits. Trading in the Chicago futures pits, once an icon of world capitalism where raucous traders epitomized "open-outcry" trading as they made and lost fortunes, has fallen to 1 percent of...

  • CHICAGO, June 24- FOR LET: 36,000 square-foot cave in central Chicago. When CME Group Inc's futures pits in the cavernous trading floor at the Chicago Board of Trade building fall quiet next month, real estate broker Holly Duran will be working overtime to find a tenant to occupy a storied piece of America's financial history. Prospective candidates could...

  • NEW YORK, June 19- A former trader at the broker-dealer unit of MF Global Holdings Ltd's will pay $500,000 to resolve claims that he tried to manipulate palladium and platinum futures prices, a U.S. regulator said on Friday. The U.S. Commodity Futures Trading Commission said former MF Global Inc trader Joseph Welsh had agreed to the penalty as part of a settlement...

  • Corn and wheat futures also closed higher, supported by technical buying as well as some weather-related concerns. "We are finally starting to run into some bad news for the crop, in the form of field washouts and prevented planting, with rains this week from Tropical Storm Bill unlikely to let farmers into the fields in Arkansas and Missouri," Charlie Sernatinger,...

  • SINGAPORE, June 10- Chicago wheat futures edged higher for a third session in a row on Wednesday, trading near a two-month high, amid forecasts of more rains in the southern U.S. *Front-month wheat on the Chicago Board of Trade was up 0.4 percent at $5.34-1/ 2 a bushel by 0035 GMT, not far below Tuesday's peak of $5.37-1/ 4, its highest since April 6. *Wheat has rallied 12...

  • CHICAGO, June 9- CME Group Inc will extend electronic grain and oilseed futures and options trading by five minutes next month following the closure of most of its open-outcry futures pits, the company said on Tuesday. The period, which is set to begin on July 6, will give traders time to square up positions, adjust errors in orders and enter last-minute...

  • GRAINS-Wheat clings to gains on U.S. harvest bets Monday, 8 Jun 2015 | 8:44 PM ET

    SINGAPORE, June 9- Chicago wheat futures on Tuesday held gains from the previous session as investors continued to bet that heavy rains would hit yields of the winter wheat crop in the southern U.S. *Wheat for July delivery on the Chicago Board of Trade was up 0.1 percent at $528-3/ 4 a bushel by 0033 GMT. *CBOT soybeans gained 0.4 percent to $9.47-3/ 4 a bushel and corn...

  • SINGAPORE, May 19- Copper ticked lower on Tuesday as the dollar recovered, but the industrial metal was trapped in tight ranges as investors wait for more clues on economic conditions in top consumer China. *Three-month copper on the London Metal Exchange was off $3.50 at $6,376.50 a tonne by 0039 GMT. *Copper has been trading in narrow ranges since hitting this...

  • NEW YORK, May 18- CME Group Inc said on Monday it would launch a zinc futures contract next month, stepping up a global battle for metals market share with the London Metal Exchange amid expanding Asian markets. The statement did not explain JPMorgan's role in the zinc contract. "We're pleased that CME Group has responded swiftly and decisively to industry...

  • WASHINGTON, May 14- The top U.S. derivatives regulator said on Thursday that his agency has directed exchange market operator CME Group Inc to beef up its enforcement staff and develop plans to detect manipulative "spoofing" tactics. Commodity Futures Trading Commission Chairman Tim Massad discussed the agency's recommendations to CME in prepared...

  • Financials, tech are areas to watch: Traders Monday, 11 May 2015 | 2:00 PM ET

    The "Halftime Report" traders give their trades for the second half.

  • May 6- The U.S. Commodity Futures Trading Commission sued two gold futures traders from the United Arab Emirates, alleging they engaged in unlawful disruptive trading practices known as "spoofing" by placing bids and offers with the intent to cancel them before execution. CFTC alleges that between February and April 28, 2015, UAE residents Heet Khara and Nasim...