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Open Outcry
the trading pit



presented by ITVS

independent lens

The Trading Pit

On a recent Friday, the foreign currencies and exchange floor looked like nothing so much as a large frat party without beer....  Runners in yellow jackets gave each other backrubs, frisked each others' pockets for bid cards, and flung waste paper aside while traders flung themselves around the pit, conducting their business by the time-honored means of 'open outcry.'-Travel Ape guide

The trading pit at the Merc
Described as order within chaos, the Chicago Mercantile Exchange packs in more than 4,000 traders and staff on two trading floors each day. In the daily activity of open outcry auctions, minute-by-minute deals are made in heart-pumping theatrical display: a blur of hand signals and shouts, bodies vying for attention and making deals for billions of dollars at lightning speed.

The eye-popping whirlwind of activity in the pit - what does it all mean? Enter the pit and see, hear and feel what it's like. (You must have Flash to view. Download Flash.)

Find out what the colored jackets mean. Translate the meaning of a simple twist of the wrist and learn about the arcane hand signals. Get a crash course in options and futures and, if you still need a road map, study the glossary of terms.



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