In a world of continuous trading, electronic order routing
and global clearing, it is easy to forget that open outcry
lives on, albeit not in the rudest of health. But recent signs
are that those who trade in the remaining pits are not going to
let them go without a fight. In London, moves to make IPE a
fully electronic environment have resulted in strike action
from Locals and enough discontent that parent ICE has been
forced to back away from a compulsory switch. Meanwhile, up the
road at LME electronic volume is still sluggish and the
modernisers have ended up in hot water at board level.
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