Sun-Times file photo
Jack Sandner, chairman of the Chicago Mercantile Exchange for most of the 1980s and 1990s, used to glory in showing VIPs and everyday visitors the colorful, chaotic trading floor he oversaw. He would call it “the cathedral of capitalism,” words spoken with gratitude and reverence.
But he also knew change was coming to his cathedral, and that it would have to adjust. He was involved in the first steps toward computerized trading that would change the character of futures trading, a core Chicago industry.
In 1997, he announced to the Chicago Sun-Times a revolutionary plan: allowing traders to use the internet to send orders for futures contracts directly to the trading floor. It would be a bracing new day for a business steeped in tradition, in the “open outcry” method of moving money with shouts and hand signals.
Online-Fragestunde: Fans löchern Wild Wings-Trainer Sundblad
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Wild Wings wollen aus dem Tief heraus
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SERC bleibt nach Klatsche optimistisch
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