CME to close New York trading floor at end of year

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The CME Group plans to close its New York trading floor by the end of the year, the company said in a Wednesday press release.

The New York trading floor represents just 0.3 percent of the CME Group's overall energy and metals trading volumes, the company said, adding that the planned closure is subject to review by the Commodity Futures Trading Commission.

Futures trading at the CME Group's New York trading floor was already discontinued in July 2015. Beginning in the fourth quarter of this year, the company will "make space available for floor traders to transition to electronic trading" at its facility in Battery Park, the release said.

The company said its Chicago trading floor will remain open for trading on options on futures contracts and S&P 500 futures contracts.

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