CHICAGO and NEW YORK, April 13, 2016 /PRNewswire/ -- As declining open outcry options volume on CME Group's New York trading floor now represents just 0.3 percent of the company's overall energy and metals trading volumes, CME Group will close its New York trading floor at year-end, subject to CFTC review. All options products listed with and subject to the rules and regulations of NYMEX and COMEX will be available for trading on CME Globex, and for submission for clearing through CME ClearPort.
Since the company announced in Q1 2015 that open outcry futures trading in New York would end last Summer, average daily volume for remaining options products traded through open outcry in New York has further declined by 53 percent to just 7,500 contracts. Futures trading on the New York trading floor was discontinued in July 2015.
In addition, beginning in Q4 2016, CME Group will make space available for floor traders to transition to electronic trading at the company's One North End Avenue facility in Battery Park, NY.
After open outcry trading in New York ends on December 30, 2016, the company plans to sublease its existing trading floor space, but will retain its existing office space in the building for staff.
CME Group's Chicago trading floor will remain open for trading of options on futures contracts, as well as S&P 500 futures contracts.
As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. Around the world, CME Group brings buyers and sellers together through its CME Globex® electronic trading platform and its exchanges based in Chicago, New York and London. CME Group also operates one of the world's leading central counterparty clearing providers through CME Clearing and CME Clearing Europe, which offer clearing and settlement services across asset classes for exchange-traded and over-the-counter derivatives. CME Group's products and services ensure that businesses around the world can effectively manage risk and achieve growth.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME, Globex and Chicago Mercantile Exchange are trademarks of Chicago Mercantile Exchange Inc. CBOT, the Chicago Board of Trade, KCBOT, KCBT and Kansas City Board of Trade are trademarks of the Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are registered trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. All other trademarks are the property of their respective owners. Further information about CME Group (NASDAQ: CME) and its products can be found at www.cmegroup.com.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cme-group-to-close-new-york-trading-floor-at-year-end-300251234.html
SOURCE CME Group