CHICAGO and NEW YORK — With declining options volume on CME Group’s New York trading floor now representing just 0.3 percent of the company’s overall energy and metals trading volumes, CME Group said it plans to close its New York trading floor at year-end, subject to CFTC review. All options products listed with and subject to the rules and regulations of NYMEX and COMEX will be available for trading on CME Globex, and for submission for clearing through CME ClearPort.
Since the company announced in Q1 2015 that open outcry futures trading in New York would end last Summer, average daily volume for remaining options products traded through open outcry in New York has further declined by 53 percent to just 7,500 contracts. Futures trading on the New York trading floor was discontinued in July 2015.
In addition, beginning in the fourth quarter of 2016, CME Group will make space available for floor traders to transition to electronic trading at the company’s One North End Avenue facility in Battery Park in lower Manhattan.
After open outcry trading in New York ends on December 30, 2016, the company plans to sublease its existing trading floor space, but will retain its existing office space in the building for staff.
CME Group’s Chicago trading floor will remain open for trading of options on futures contracts, as well as S&P 500 futures contracts.
CME Group sold the NYMEX Building at One North End Avenue to Brookfield Properties in 2013 for $200 million. It leased back 220,000 square feet in the lower level of the building from Brookfield.