It's been referred to as the last bastion of unfettered, pure capitalism.  The Chicago Mercantile Exchange has hosted the "open-outcry" pits since 1848, but the computer revolution is finally ending the practice, and pit trading will cease in most markets at the close of business today. Reuters: A few dozen Chicago traders will don their multicolored jackets to trade soybean and forex futures the old-fashioned way one last time on Monday, marking the end of 167 years of open-outry trading in the city where it was born. Barring a last-minute delay by U.S. regulators, CME Group Inc will end most of its open-outcry futures operations in Chicago and New York after the closing bell on Monday, concluding a tradition that once epitomized global financial markets but succumbed to the efficiency and speed of machines. The din of raucous shouting and frenzied hand gestures at the cavernous Chicago Mercantile Exchange floor has faded over the years, and now...(Read Full Post)