CHICAGO, May 16 (UPI) -- The Chicago Mercantile Exchange closed its doors at the close of the day Friday and traders move on to new digs Monday with many memories, traders said.

The "old Merc," as it is called, was purchased by GME Group Inc. last year and will complete its move to new offices at the Chicago Board of Trade building, 141 W. Jackson Street in downtown Chicago, in part because electronic trading has reduced the exchanges' space needs.

The Merc's old offices at 20 S. Wacker St. opened in 1983, the Chicago Sun-Times reported Friday.

"For my father before me and for me, we made our livelihoods down there. I felt it was the best of all possible worlds," trader James Oliff said, nostalgically.