Chicago Mercantile Exchange (CME) insisted last week that a
new education drive aimed at bringing floor traders up to speed
with electronic trading was not a signal that open outcry pits
are about to close.
CME said it will establish the Electronic Trading Resource
Center (ETRC) by mid-December and two new training programs in
the next few months to help members and floor personnel develop
the skills and techniques they need for trading in an
electronic environment. CME officials said the new facility is
aimed at helping floor traders who want to make the transition
full- or part-time to electronic trading.
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