The Chicago Mercantile Exchange (CME), the world's number two futures exchange, could slow the pace of adoption of electronic trading following changes to its board of directors.

The exchange has replaced Scott Gordon, its chairman, with Terrence Duffy, an independent floor trader, following a debate over the proposed adoption of electronic trading by the exchange. Duffy proposes a wider training schedule for floor traders, which sources close to the exchange believe could slow the exchange's adoption of screen-based trading.