Leo Melamed speaks during his November European Tour, says technological advances have materially speeded things up and HFT represents one more evolutionary step.
On Tuesday, Leo Melamed, widely known as the father of financial futures, addressed an audience of Futures industry professionals at the CTA Expo, offering personal stories of his experiences that got him to where he is today.
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.
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to an indispensable tool for managing risk as well providing an alternative investment to traditional stock and bond portfolios.
Asia, water, big data, intellectual property and commodities that have not been invented yet will likely be the leading markets in the next 20 years, according to Richard Sandor, who has a pretty good track record on these things.
Stepping into Leo Melamed’s office at the CME Group building is like stepping into an incredible museum.
Leo Melamed was instrumental in changing the futures industry, but he couldn’t have done it without Milton Friedman. Here, Melamed talks about Friedman’s contribution and the future of the industry
September editor's note from Ginger Szala
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.