Computers can get (corona)viruses too?
(Silver Doctors Editors) Well, we’ve just got to keep those “traders” safe, you know?
As if there were traders all over the CME trading floor like the ones in this scene from that one Eddy Murphy movie:
What does go on today?
Something more like this:
It’s just a bunch of computers executing “trades” based off of corrupt, insider information (aka the revolving door between Washington and Wall St) or executing trades based off of pre-programmed high-frequency trading algorithms, the best of which include said corrupt, insider information.
Here’s part of the press release from CME Group (bold added for emphasis):
Mar 11, 2020
CHICAGO, March 11, 2020 /PRNewswire/ — CME Group today announced it will close its Chicago trading floor as of the close of business Friday, March 13, 2020, as a precaution to reduce large gatherings that can contribute to the spread of coronavirus in line with the advice of medical professionals. All products will continue to trade on CME Globex as they do today.
No coronavirus cases have been reported on the trading floor or in the Chicago Board of Trade building. The reopening of the trading floor will be evaluated as more medical guidance on the coronavirus becomes available. The company’s headquarters at 20 S. Wacker Drive will remain open.