Trading for “devout cowards”

click to enlarge In another example of how the CME used to run relatively edgy advertisements, the above ad from the mid/late 1970s offers a paper trading Scorecard if the coupon is clipped and mailed in.  This particular ad ran in Playboy (!) and takes a dig at a man’s masculinity by stating “How to trade commodity futures while remaining …

Small ball

It’s been great to watch the Kansas City Royals get into the MLB playoffs and utilize the small ball strategy to win games via that methodical and incremental approach.  As I don’t get back to KC more than once a year it seems, there remains a nostalgia whenever something good comes out of the region and of course it brings …

Social media

Now that there’s the truest form of open outcry in my life w/a precious infant girl, it’s going to be tough to knock out posts as I’d like going forward.  However, a few are in the queue so thanks for your patience.  Regarding social media, I’ve had some friends ask about why there isn’t a social media presence for the …

Board of Trade Daily Reporter 1861

click to enlarge Early traders at the CBOT had an enormous amount of external factors to deal with and some of the difficulties were reflected in the above Board of Trade Daily Reporter from May 23rd, 1861 in my collection.  To begin it states, “Business is brought to a dead halt on account of the want of funds wherewith to …

Gnomes of South Wacker Drive

Starting with the launch of the IMM currency futures at CME in 1972, the Gnomes of Zurich had to match wits with the Gnomes of (first on West Jackson and then later on) South Wacker Drive when it came to trading Swiss Franc futures. A few pictures below show an active currency quadrant in the early 1990s, click to enlarge …

Opium futures

Taking a slight deviation from strictly ‘trading pit’ history, the origins of any futures trading I find interesting and recently obtained these telegraph orders regarding Indian opium futures from 1869 and 1870.  Now it might be a slight stretch to refer to these as ‘futures contracts’ because ultimately there was no clearinghouse but there was standardization in terms of delivery …