This issue marks the end of an era. Open-outcry trading at London’s International Petroleum Exchange has finally had its last day. Although the IPE had been voicing its intention to become fully electronic for years, the final announcement still came as a jolt.

Adapting to the new way of trading will be a culture adjustment for many, not just floor traders and brokers. Meanwhile, the New York Mercantile Exchange maintains its customers want open-outcry, and will be launching a pit-traded