Open Outcry

RECENT NEWS
MarketWatch  Oct 12  Comment 
The Chicago Board Options Exchange's electronic trade was not working on Monday, but the CBOE remained "open for business, just by open outcry," said Gail Osten, a spokeswoman for the CBOE. "We've been having systems difficulties since 8:30 this...
Financial Times  Sep 16  Comment 
Social networking site is resurrecting in cyberspace the trading pits of yesteryear as traders reconnect with global counterparts
Metal Bulletin  Sep 3  Comment 
The London Metal Exchange will move open outcry trading to its disaster recovery site in Chelmsford for one day next week from its Leadenhall Street address in London
Mondo Visione  Jul 7  Comment 
The Spanish Stock Exchange has decided to transfer the shares that are traded in open outcry pits to an electronic trading pit environment. The initiative is intended to boost the shares' liquidity, transparency and accessibility.
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It's a way of trading in a stock exchange which mainly depends on communication between trading professionals through hand signs, signals and shouting out loud. (Yes the place would definitely look chaotic with all the shouting and people roaming!)

The place of trading is referred to as the Pit and, the hand signaling is sometimes referred to as Arbitrage or the Arb.
www.tradingpithistory.com hosts the guide to the signals used in an Open Outcry system.

It's one of the methods of carrying out trading at the Chicago Mercantile Exchange Holdings (CME) apart from the completely online trading platform CME Globex.

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