Trading Pit Hand Signals Pdf
Numerical quantities of 1 5 are displayed with vertical fingers and 6 9 are displayed with horizontal fingers.
Trading pit hand signals pdf. Roof of house shorthand version. 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. Hands are held with fingers extended and brought together at 45 degree angle.
Cme hand signals are the default example with any variations listed in each exchange category. To preserve for historical record the hand signals of open outcry pit trading. 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.
Most traders in the pit are locals. The part of the trading floor where this takes place is called a pit. 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.
Futures and options contracts are standardized for monthly expiration cycles and different hand signals evolved to signify each month. Each pit is divided into segments designated for different contract delivery months. New bids or offe.
The basic factors to understand are palms in towards the body indicate the action of buying and palms out indicate selling. The signals let traders and other floor employees know how much is being bid and asked how many contracts are at stake. 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.
Open outcry is the name of a method of communication between professionals on a stock exchange or futures exchange typically on a trading floor. Hand is held above head with index finger extended downward then rotated in circles. One hand is held at 45 degree angle with fingers extended.
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