Reuters (January 2)
Jane Street and Citadel Securities looked primed to seize “a much bigger slice of the $150 billion global-markets pie,” disrupting incumbent trading giants like JPMorgan, Morgan Stanley, Bank of America and Deutsche Bank “who in 2025 will notice electronic market-makers acting more like banks.” Until now, there’s been a “seemingly happy co-existence” with the electronic market makers focused on flow, but that “will end in 2025” when “the upstarts” flex their greatly expanded capital base to make “a fresh assault on bond and commodity trading.”
Tags: $150 billion, Banks, BoA, Bonds, Capital base, Citadel Securities, Commodity trading, Deutsche Bank, Disrupting, Electronic market-makers, Global markets, Incumbent, Jane Street, JPMorgan, Morgan Stanley, Trading giants
Crain’s Chicago Business (May 4)
CME’s last commodity trading pits “shut over a year ago because of COVID-19, and the exchange announced today that they won’t reopen.” CME “had already closed floor trading for most futures contracts in Chicago and New York in 2015 as open outcry had fallen to just 1% of total volumes. The options pits in Chicago, with history stretching back 173 years, were the exchange’s last bastion for old-school commodities floor traders.”
Tags: Chicago, CME, Commodity trading, COVID-19, Exchange, Futures, New York, Open outcry, Options pits
