ICE to close open outcry pits

Global exchange operator and over-the-counter energy marketplace IntercontinentalExchange (ICE), is to close all open outcry trading for futures contracts by the end of February.

Contracts that will transition to fully electronic markets include coffee, cocoa, cotton, orange juice, sugar, equity indexes and currencies, while open outcry trading for all options on futures contracts will continue until the exchange provides a timeline for the introduction of electronic options.

The move will mean an

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