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On the CME Group trading floor, open outcry trading of a particular product or group of products. Standing elbow to elbow in the trading pit, traders shout out the number of contracts and prices they want to buy or sell, and their prices. Because of the noise and crowds in the pits, they use hand signals at the same time to convey the same information.
Hand signals denote whether a trader wants to Buy or Sell, and also convey Price and Quantity:
A trader who is buying will have their palms facing inward, and a trader who is selling will have their palms facing outward, away from their body. Additionally, signaling in front of and away from the body indicates price, while signaling near the face indicates quantity.
Certain hand signals are unique to specific pits.
This infographic is our way of visually highlighting some basic hand signals used in Open Outcry trading.
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