Monday, October 10, 2011

New trading pit frontier

Good news for those trading floor diehards that refuse to trade electronically and who have drifted to different trading floors across the world (believe there are more people who fall into this category than you'd imagine), there is a somewhat new trading pit in Addis Ababba, Ethopia to trade grains at the Ethiopian Commodities Exchange.

photo credit: flickr

To make it easier to trade, buyers and sellers are separated into two different jacket colors and all transactions are sealed w/a high five.  No doubt the flights from Chicago to Addis Ababba are gonna be packed w/guys who want a piece of that action.


Ethiopian Commodity Exchange was also featured in the PBS film The Market Maker, it's an hour long and is linked here.  The Market Maker is an excellent documentary and has a lot of parallels to the early days of Chicago grain trading and why a centralized market like the CBOT was formed.
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