Leo Melamed speaks during his November European Tour, says technological advances have materially speeded things up and HFT represents one more evolutionary step.
Few would argue that the modern era of futures markets began with the birth of financial futures at the International Monetary Market of the CME and its launch of currency futures in 1972.
The CME prize for innovation has since its inception in 2005 chosen individuals whose innovative ideas, products or services have created significant changes to markets, commerce or trade.
CME Group Chairman Emeritus Leo Melamed recounts how Milton Friedman's endorsement paved the way for currency futures. With Milton's paper in hand, Melamed learned the power of a name.
There is no way to sugar coat it: Current economic conditions have the earmarks not only of a severe U.S. recession but—dare I say it—the potential of a global depression. That is about as dire as it
