For Crying Out Loud : From Open Outcry to the Electronic Screen

by Melamed, Leo; Donohue, Craig

• ISBN13: 9780470229439
• ISBN10: 0470229438
• Edition: 1st
• Format: Hardcover
• Copyright: 2009-08-24
• Publisher: Wiley

Summary

In short, Melamed is to the futures markets what Bogle is to the indexing/mutual funds industry. In this book, Melamed covers not only the developments in the futures markets since 1992 but also discusses their future and the technological and global issues surrounding them.

Author Biography

Leo Melamed is globally recognized as the founder of financial futures. In 1972, as chairman of the Chicago Mercantile Exchange (CME Group), he launched currency futures with the creation of the International Monetary Market (IMM)—the first futures market for financial instruments. He is currently Chairman Emeritus of CME Group and CEO of Melamed & Associates, Inc. Melamed has been an adviser to the U.S. Commodity Futures Trading Commission (CFTC) and serves as special adviser on futures markets to governments worldwide. He is also the author of Leo Melamed on the Markets (Wiley), The Tenth Planet (Bonus Books), Escape to the Futures (Wiley), and editor of an anthology entitled The Merits of Flexible Exchange Rates (George Mason University Press).

Table of Contents

Foreword	p. ix
Preface	p. xiii
Acknowledgments	p. xix
Author's Note	p. xxi
Batting the Tyranny of the State Quo
Countdown to Liftoff	p. 3
Globex: The Fundamental Difference	p. 13
EOA: The Rocket Propellant Fuel	p. 23
E-Mini: Springboard for the Mexico Success	p. 33
Strategic Commotion: Planning the Journey	p. 45
Global Competition: The Ultimate Enforcer	p. 51
Demutualization: Stepping on the Moon	p. 59
Dot-Coming: The False Paradise	p. 73
Cabal: Boardroom Intrigue	p. 85
Baptism by Fire: Sweet Victory	p. 99
Postscript: Globex Time Line	p. 111
Messenger from the Futures
Tomorrow's Technological Tidal Wave	p. 115
Wakeup Call	p. 121
Reminiscences of a Refugee	p. 129
The Need for Futures Markets in an Emerging World Economy	p. 137
Panel on the Stock Market Crash of 1987	p. 145
Preface to the Japanese Translation of Escape to the Futures	p. 153
Pain, Progress, and Promise: Reflections on the Twentieth Century	p. 157
There Are No Jews in Bialystok	p. 165
Chicago Futures in the Twenty-First Century	p. 181
Merton Miller, 1923-2000	p. 187
Buy a Call on the Snake: Traditional Exchanges in an E-Commerce World	p. 191
Transformation of Futures Exchanges	p. 199
Our Middle Name	p. 203
CME Center for Innovation	p. 211
Remarks at the Celebration of the Chinese-Language Publication of Escape to the Futures	p. 215
Knowledge Tag	p. 221
CME Fred Arditti Award	p. 225
Math Is in Our Futures	p. 229
If It's Good Enough for Milton	p. 233
Education: The Only Thing that Never Fails	p. 239
The Boy of Steel	p. 243
CME: The House that Innovation Built	p. 247
The Law of Selective Gravity	p. 251
The Gray Swan	p. 255
Appendixes
The Third Milestone	p. 263
Letter to Milton Friedman	p. 268
It's Time for a Change	p. 270
A Brief Who's Who of the Members of the Equity Owners' Association	p. 276
A Merged Future for Two Exchanges?	p. 278
The Merc Fights for Self-Regulation	p. 280
Dear Equity Owner	p. 282
Equity Owner's Association Status Report	p. 285
Creating a New Alliance-Why Here and Now?	p. 292
Chairman Emeritus Remarks	p. 297
Open Letter to the Members of the Chicago Mercantile Exchange	p. 299
A Return to the Table	p. 301
James J. McNulty Joins CME as President and Chief Executive Officer	p. 307
CME Names McNulty New President and CEO	p. 309
Chicago Mercantile Exchange Holdings Inc. Board Elects Officers	p. 311
Letter to Audit Committee from Scott Gordon	p. 314
Futures' Future Isn't in Chicago	p. 316
Notes	p. 319
About the Author	p. 333
Index	p. 335
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