May

1

 Whilst looking around the internet for pictures of my buddies and I on the trading floor, I noticed that Deutsche Bourse has cornered the market on Andreas Gursky's photos of exchange floors:

Also I found an old CME ad promoting the beginning of the E-mini S&Ps. My, how far has that contract come!

The CME has put out some really cool promotional stuff in the past and I'm working on a collection. When a contract would be launched or some sort of milestone was set, they'd give out buttons for everyone to wear. Stuff like, "15 minutes please" to ask traders to make an appearance where a new contract was trading and give it a shot, or such as celebrating 1 million open interest in eurodollars (it's 10 million O.I. as of yesterday), and the launch of new contracts, most of which failed.

In the 70's they put out posters and ads ridiculing the Communist system such as How Come There's No Moscow Mercantile Exchange?

"Millions of tons 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 Uniter 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."

There is also a Budapest or Belgrade ad out there but I don't have my paws on it yet.

I'm not sure if they put any promotional material out under the phrase "Free Markets for Free Men" but I'm certain the meat pits didn't let it be known their unofficial phrase was/is still? "Wide Markets for Wide Men."

One thing that makes me livid is that I was travelling and didn't know that Nick Leeson's jacket was up for auction until after it ended. To follow up, I emailed the liquidator and they said all the other Barings coats were sold as well.

While on the topic of the trading floor, I might as well plug a new book that I enjoyed recently and is an easy read, Out of the Pits: Traders and Technology from Chicago to London by Caitlin Zaloom. Another thing I dug up on the net is a 51 second youtube clip of Robert Downey Jr. on the floor of a NY futures exchange and he concludes with his opinion on the types of people who inhabit the floor.

If anyone knows of any Futures industry memorabilia for sale, please let me know.


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