Cme Trading Pit Hand Signals
Hand signal galleries explore the open outcry hand signals below.
Cme trading pit hand signals. Roof of house shorthand version. Cme s s p 500 an index product futures contract size is 250 times the s p stock index. Hands are held with fingers extended and brought together at 45 degree angle. Scarf around neck for the cold.
Numerical hand signals are generally constant throughout all trading floors but slight variations are made with figures greater than 99. Fingers resemble the outline of a vagina. As chicago closes many open outcry trading pits this oral history preserves the unofficial sign language traders developed to communicate their orders in the noisy chaos of the merc. Hand is held above head with index finger extended downward then rotated in circles.
Thumb and index finger of both hands are brought together. One hand is held at 45 degree angle with fingers extended. Some are unique to particular pits on the cme floors. Hand is held with fingers pointed downward.
This presents the signals most commonly used at cme. Of 55 an agricultural product choice and 45 select usda grade live steers. Price is displayed away from the body and the quantity is displayed close to the face. Pinky finger is extended upward from fist.
The pits can be raised and lowered depending on trading volume. To an onlooker the open outcry system can look chaotic and confusing but in reality the system is a tried and true method of accurate and efficient trading. Hand forms fist at chin level. Former cme trader ryan carlson explains some of the hand signals used on the floor.
Hand signals met the need to speed up communication in the fast moving financial futures pits. Cme hand signals are the default example with any variations listed in each exchange category. Hand holds throat between thumb and index finger. Some signals may mean one thing in a certain pit while a similar signal may mean something entirely different in another pit.
An illustrated project to record the hand signal language used in cme s trading pits has been compiled. Hand is held palm outward and thumb is folded to touch ring finger.
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