Trading Pit Hand Signals Pdf
In the cme s p 500 futures pit for example the lead month takes up about 90 of the pit.
Trading pit hand signals pdf. The basic factors to understand are palms in towards the body indicate the action of buying and palms out indicate selling. To preserve for historical record the hand signals of open outcry pit trading. Hand is held above head with index finger extended downward then rotated in circles.
Futures and options contracts are standardized for monthly expiration cycles and different hand signals evolved to signify each month. Cme hand signals are the default example with any variations listed in each exchange category. It involves shouting and the use of hand signals to transfer information primarily about buy and sell orders.
These orders are carried to the trading pits by runners or flashed to the pits by hand signals. Numerical quantities of 1 5 are displayed with vertical fingers and 6 9 are displayed with horizontal fingers. New bids or offe.
Hands are held with fingers extended and brought together at 45 degree angle. Like most signals the monthly signals were developed based upon simplicity and sometimes based upon the letter of the alphabet which serves as an industry code for each month. In an open outcry auction bids and offers must be made out in the open market giving all participants a chance to compete for the order with the best price.
Each pit is divided into segments designated for different contract delivery months. Hand signals the sign language of futures trading represent a unique system of communication that effectively conveys the basic information needed to conduct business on the trading floor. Price is indicated at arms length away from the body and quantity is displayed close to the face.
Hand signaling open outcry hand signaling also known as arb or arbing short for arbitrage is a system of hand signals used on financial trading floors to communicate buy and sell information in an open outcry trading environment. One hand is held at 45 degree angle with fingers extended. Explore the open outcry hand signals below.
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