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Trading pits slated to close

from The Associated Press via Crain's Chicago Business

From July 7: Pete Meegan had every intention of going back to college, but then he got a summer job in the Chicago trading pits and fell in love with the "roar" of the floor, the excitement of "4,000 people yelling, 'Buy! Buy! Buy!'" and decided no more classroom for him. That roar will soon go silent. Today, most futures pits in Chicago and New York, where frenzied buying and selling once helped set prices on cattle and corn, palladium and gold, and dozens of other commodities, are expected to close for good. more


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