Open Outcry
trading done by human to human interaction using a combination of hand signals and verbal orders. often -ssociated with the nymex, cme group, and cbot. formally the only way commodities were traded prior to electronic trading.
becoming less and less popular, many believe that open-outcry trading will become extinct in the next few years.
chris is using open outcry to buy 30 september lite sweet crude contracts at $75.85 a barrel.
standing in the crude pit, chris will motion his hands and yell out:
“85 on 30!”
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