The Wall Street Journal

Old-School Floor Traders Finally Get Their Day in Court Against CME

Trial to open in the Chicago plaintiffs’ long-running lawsuit claiming harm from the launch of electronic markets

Traders signaling prices filled the bustling floor of the Chicago Mercantile Exchange in 2003.
Traders signaling prices filled the bustling floor of the Chicago Mercantile Exchange in 2003. Photo: Scott Olson/Getty Images

Thousands of jostling traders once packed the floors of Chicago’s futures exchanges, before the advent of high-speed computerized trading turned them into relics of a bygone era. Now, some of them will finally have their day in court.

On Monday, a trial is set to begin in a long-running class-action lawsuit filed by traders who say that exchange giant CME Group duped them out of the privileges they held as members of the city’s once-elite community of floor traders.

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