How Two Chicago Markets Came to Dominate
In the mid-19th century, Chicago's Board of Trade set up shop with grain products; the Chicago Mercantile Exchange followed soon after with a focus on butter and eggs. Agricultural products still form part of each market's business, but now it also includes esoteric futures and options trading.
Robert Siegel talks with Leo Melamed, chairman and CEO of Melamed and Associates, Inc., about how the exchanges work. Melamed is also chairman emeritus of the Chicago Mercantile Exchange, and a founder of financial futures markets.
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