NEWS
CME to Close KCBT Pits in June
Mon Feb 4, 2013 01:51 PM CST

(Dow Jones) -- CME Group Inc. plans to close the trading pits of the Kansas City Board of Trade in late June as part of the futures-exchange giant's 2012 acquisition of the regional grain market.

Open-outcry trade in the KCBT's flagship hard-red winter wheat contracts will shift to CME's Chicago-based trading floor as of July 1, according to a statement Monday from the company. The move requires regulatory approval.

The shift signals an end to nearly 160 years of grain trading in Kansas City, Mo., where the exchange began as a series of daily auctions held on the banks of ...

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