Anyone who's ever headed down to the Chicago Mercantile Exchange's trading pit knows that it's a loud and chaotic place. However, the pork belly trading pit is adopting a new format. The face-to-face activity will move to an all-electronic format.
The newly formed CME Group (after CME and the Chicago Board of Trade merged) will move all face-to-face trading to the CBOT's floors. So, some CME staples, such as pork belly contract, will move be traded electronically.
Introduced in 1961, the volume of activity for frozen pork belly contracts has slowed in recent years as fresh pork belly trading gained appeal.
Source: Crain's, Meatingplace.com