Thursday, October 31, 2013

London Metals Exchange vid (UK's Telegraph)

End of an era for the London Metal Exchange?

The Telegraph posted the above 2 minute video regarding the future of the London Metals Exchange and noted that it's floor will have it's future 'reviewed' in 2015.  I've written previously about how I don't consider it a standard open outcry trading floor and how a tea party at a retirement home has more action than that floor but figured the above vid was worth posting. 

Saturday, October 26, 2013

1995 WSJ article on hand signals

You'll have to click on the image to enlarge the article.

Floor based WSJ reporter Clifton Linton wrote the above 1995 WSJ article on how ubiquitous hand signals were for those who worked around the trading pits in Chicago.  The article also captures how hand signals permeated the lives of floor personnel which lead to uses in other aspects of life, including a comment by a trader's wife who mentions that her husband doesn't talk in his sleep but unconsciously uses hand signals, LOL. 

One note I'll add is that at the end of the article it mentions the bar Cactus which was enough of a trader hangout that it's original domain address was

Wednesday, October 23, 2013

Amsterdam Exchange

When it gets a little too quiet in the market like today, it's nice to hear the roar of an old trading floor.  The video below is not entirely the same for me however because the lingo is in a different language, not Dutch as trading was done in English on the Amsterdam Exchange, but equity options which are foreign to this futures guy.

Previously I wrote about the Amsterdam Exchange from which a different video is linked and it's surprising that the above video was posted on the official AEX youtube channel as exchanges tend to not showcase their floor based lineage.  LOL at 3:01 when a broker tightens a wide market which is jumped twice by a local.

Thursday, October 17, 2013

The Pit - historical reenactment at the CBOT on Sunday

 (pictured above is a snippet of a late 19th century CBOT illustration out of Harper's, can click to enlarge detail)

A historical reenactment based upon elements of Frank Norris' 1903 book The Pit will occur on Sunday, October 20th from 3-4pm at the CBOT building. The presentation is being organized by highly regarded Pocket Guide to Hell tours who continue to recreate significant Chicago historical events, talks and tours.  This weekend's event is being held in conjunction w/the Chicago Architecture Foundation and their effort to spread insight and access to Chicago's architectural treasures.

I got an opportunity to get a peek at the script and it's excellent, entertaining and historically accurate...not to mention much better than anything I could create!  The aim of the event goes beyond Frank Norris' book to also explore Chicago's cornerstone industry of commodities trading which continues to operate without equal.  Various historians and narrators will be on site to enhance the event and it will likely be more boisterous than the actual trading which remains on the CBOT floor.

Part of the fundraising effort was done through hosting a couple Pit the board game tournaments at Chicago bars and the first one I was able to attend was a lot of fun.  The opportunity to take part in supporting the production remains and special edition futures contracts can continue to be obtained.
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