Futures Automation Joins 20th Century, But Is CME Waffling On Open Outcry?
THIS WEEK'S LEAD STORIES
In some ways, the CME's agreement with Reuters is like jumping aboard the Concorde after years of driving a horse and buggy. For 100 years there hasn't been much change in the way futures contracts are traded -- exchange members still crowd into the pit, where they shout and wave their arms to attract attention to their bids and offers.
Most technological advances in futures trading have occurred in price reporting and clearing, so the CME's decision to embrace automated execution -- albeit when
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