Briefly

HSBC Holdings, Europe’s biggest bank by market value, shut its three-man trading desk at the Chicago Board of Trade on Thursday, silencing the voice of its “squawk box” operator as electronic trading displaces face-to-face deals.

“It’s the way the market goes: It’s downsizing,” said Richard Johnson, who kept HSBC customers informed of prices in the Treasury futures pits with commentary piped directly to their desks. “Today’s the last day for the squawk box, and I’ll move on.”