The world’s largest financial derivative exchange Chicago Mercantile Exchange (CME) Group the second company which launched Bitcoin futures on its platform is closing trading in Chicago as a precautionary move to Coronavirus outbreak as it announced on Wednesday, March 11.
According to the report of CNBC, the closing of the Chicago trading floor will occur on Friday 13th March. CNBC report claims that after the suspension of trading in Chicago, the CME Group will become the first major U.S. exchange to shut down a trading floor due to coronavirus outbreak.
It’s a precautionary move “No cases have been reported on the floor”
The major financial derivative exchange clarifies that this is just a precautionary move to lessen the large gatherings that can boost the coronavirus epidemic outbreak. However, the company claims that there have been no cases of coronavirus confirmed on the Chicago trading floor. According to a report:
“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.”
An additional “q&a” will be given to traders in Chicago as well regarding the execution of the trading products. The company also assures that all of the Chicago headquarters will remain open and also the trading of all products will remain to continue on CME Globex.
The announcement of closing the Chicago trading floor came from the CME Group right after various companies asked their employees to work from home to avoid coronavirus outbreak. Recently, the leading San Francisco-based crypto exchange Coinbase instructed its employees to stay at their homes and work from there. Some other companies such as the crypto analytics firm Messari, Blockstack and the Winklevoss Twins are also implementing new measures due to concerns over coronavirus outbreak.
Till now, COVID-19 spread has caused several crypto businesses to halt their businesses and continues to affect the crypto industry.
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