CME embraces electronic options trading

When it comes to open-outcry, floor-based trading, the options pits may be the last holdout. However, that all seems to be changing. Stocks and futures have long since embraced the electronic approach, NYSE specialists notwithstanding.  And now, at the CME, electronic trading seems to be winning out with force. Most expect floor traders to be all but obsolete in the coming years. Of course, people have been saying that about NYSE floor-traders for years as well. The CME really has no choice but to promote its electronic trading systems. Executives expect that the percentage of trades executed electronically to soar from the current 12 percent.

For a look at the CME:
- Here's an AP article