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Goodbye Trading Pits

In this Sept. 16, 2003 file photo, clerks shout in the Euro Dollar Futures pit at the Chicago Mercantile Exchange. Most pits in Chicago and New York where traders bet on future prices of palladium and gold, cattle and corn and dozens of other commodities are expected to close for good on Monday, July 6, 2015.

(AP Photo/Anne Ryan, File)

Chicago Money Arts & Culture

Chicago Mercantile Exchange, Board Of Trade Permanently Close Most In-Person Trading Pits

By  Stina Chang and Richard Requena
   

The historic owner of the Chicago Mercantile Exchange and the Board of Trade is closing most in-person trading pits for good. Reset brings on a sociology professor to tell us about the history and legacy of those trading pits.

GUEST: Donald MacKenzie, sociology professor at University of Edinburgh, Scotland; author of Trading at the Speed of Light

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