CME new contract launch buttons

CBOT Aurora electronic trading system

Here is a screen shot of what the Aurora trading system that the CBOT developed in about 1989 looked like. It was supposed to look like the pit in a way.

Electronic Exchanges The Global Transformation from Pits to Bits

Electronic Exchanges: The Global Transformation from Pits to Bits is a new book that is certainly the most comprehensive description on how and why trading migrated to electronic markets from the open outcry trading pit. Although it might appear as an academic work, it's very easy to read and a nice historical review of how the exchanges and marketplace has gotten to their current state. The two authors are highly qualified on the topic and the book is an essential addition to anyone who is interested in financial history. The cover photo looks to be of the SIMEX trading pit in Singapore.

Leo Melamed new book For Crying Out Loud

Leo Melamed put out a new book, For Crying Out Loud, which reflects upon the past years since his 1996 book Escape to the Futures. It's a good supplement to catch up on his experiences as the Merc shifted strategies, personnel, and became the global leader in futures trading. What I was disappointed about is that only 109 pages is 'new' material while the remaining 225 pages are filled w/his speeches and notes of the past 13 years. The book isn't a must read for the average enthusiast but for recommended for those who want a detailed history of the CME.