Friday, August 27, 2010

Eurodollar option opening

Pictured above is another photo purchased from the SunTimes archive which was taken at the launch of the eurodollar options contract at the CME.  Given the honor of ringing the opening bell was George Stigler who is a Nobel Prize winning economist at the University of Chicago.

Eurodollar futures are one of the most actively traded futures contracts but most people don't know the history of their development.  Wikipedia does a nice job explaining how it was a Soviet bank in the 1950s which began the market and you can read about it by clicking here: 
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