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The announcement likely means the layoff of a 1,000 traders and the possible closure of all its World Financial Centers facilities, notes the New York Post. The move is not surprising. Rumblings of the possibility started making the news in October. However, even before that, other exchanges had already begun the transition, so in some sense it perhaps was inevitable, regardless of ICE's $1 billion acquisition. — Matthew Wurtzel See story from the New York Post
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After 137 years in business, the New York Board of Trade will go quietly into history as new parent InterContinentalExchange Inc. announced Thursday it will end open-outcry trading at the end of February, moving trading to electronic dealings.
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