CHICAGO, Feb 4 (Reuters) – CME Group on Monday said
it will end open-outcry grain trading at the Kansas City Board
of Trade in June and move the pits to Chicago.
CME, owner of the Chicago Board of Trade, bought the Kansas
City wheat exchange last year, cementing its dominance in global
agricultural trading.
The last day of open-outcry trading on the KCBT floor will
be June 28.
“By moving Kansas City wheat to the Chicago floor later
this year, we will make it as efficient as possible for our
customers to trade both products and the spread between the
two,” said Bryan Durkin, CME chief operating officer.
CME will operate an electronic trading center in the former
KCBT floor space until the end of September, where Kansas
City-based traders can execute trades on CME’s electronic
trading platform.
The KCBT primarily trades futures and options for hard red
winter wheat, used to make bread.
