Here are a couple photos which were taken on the last day of floor trading at the Minneapolis Grain Exchange, December 19, 2008. The quality isn't great since I forgot my camera and used my Blackberry.
The first photo is during the trading day around noon and it's quite obvious as to why the trading floor got shut down.
The following photo is the moments before the final trading bell of the MGEX floor. Many spectators crowded around the pit and really only about a dozen or so guys were trading. One of my mentors, Dan Roemer, is trading in the yellow jacket.
Sunday, December 21, 2008
Monday, December 8, 2008
The 11th Commandment, Risk Not Thy Whole Wad
Eurodollar pit stands empty
Closing of CME 444 West Jackson trading floor
How come there's no........
Below are three posters from approximately 1974 when the CME did an ad campaign mocking communist countries. I can recall seeing one mocking Yugoslavia in an office but I haven't seen it again. If anyone has a copy, please submit it!
How come there's no Peking Duck Exchange? Difference of opinion - openly aired - is as essential to a free economy as it is to a free society. That's why great commodity exchanges can flourish in this country and not in the People's Republic of China. You can't have free markets in a regimented society. And you can't have regimented markets in a free society.
How come there's no Havana Cigar Exchange? It just wouldn't work. A commodity futures market such as those that flourish in the United States and other free countries simply can't operate in a highly regulated economy. Free markets - or controlled? When you get right down to it, that's probably the single biggest difference between their way and ours. Except, of course, for the standard of living.
How come there's no Moscow Mercantile Exchange? Millions of potatoes, cabbage and other commodities change hands in the U.S.S.R. every year, but not a ruble's worth is traded on any futures market. In a regulated economy, the price of a head of cabbage is exactly what the government says it is - no more, no less. Does their system work? Apparently. Does it work as well as ours? You've got to be kidding.
How come there's no Peking Duck Exchange? Difference of opinion - openly aired - is as essential to a free economy as it is to a free society. That's why great commodity exchanges can flourish in this country and not in the People's Republic of China. You can't have free markets in a regimented society. And you can't have regimented markets in a free society.
How come there's no Havana Cigar Exchange? It just wouldn't work. A commodity futures market such as those that flourish in the United States and other free countries simply can't operate in a highly regulated economy. Free markets - or controlled? When you get right down to it, that's probably the single biggest difference between their way and ours. Except, of course, for the standard of living.
How come there's no Moscow Mercantile Exchange? Millions of potatoes, cabbage and other commodities change hands in the U.S.S.R. every year, but not a ruble's worth is traded on any futures market. In a regulated economy, the price of a head of cabbage is exactly what the government says it is - no more, no less. Does their system work? Apparently. Does it work as well as ours? You've got to be kidding.
Friday, December 5, 2008
Trading Pit History
Finally the initial launch of Trading Pit History is ready. It's important to get further submissions for hand signals used in the trading pit so if there are any that you know of and aren't already on the site, please submit them. Thanks!
Wednesday, November 19, 2008
CME trading floor opening
A packet of assorted stuff from the opening of the 444 W. Jackson trading floor of the CME. The guy I got it from said noone else kept theirs so I've probably got one of the only copies remaining. Remember that if you click on any of the photos, they enlarge for better detail.
Small pamphlet enclose of trading floor guide which also listed a map and booth numbers.
Some nice glossy photos were also enclosed
Small pamphlet enclose of trading floor guide which also listed a map and booth numbers.
Some nice glossy photos were also enclosed
Monday, November 17, 2008
1930 CBOT building opening banquet program
1930 CBOT building opening booklet
Friday, November 14, 2008
Open Outcry DVD
My first week at the Merc in late 1999, filming for the PBS documentary Open Outcry was done. I'm actually in it at 6:05 on the DVD and also the final shot learning my hand signals from Bruce Redding who taught a huge amount of people on the floor.
http://www.pbs.org/itvs/openoutcry/index.html
http://www.pbs.org/itvs/openoutcry/index.html