JLN PRESS ROOM PICK OF THE WEEK |
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YRA HARRIS – OPEN OUTCRY TRADERS HISTORY PROJECT – PART 1 |
Yra Harris was on a career track to become a college professor in the 1970s, earning a master’s degree in economics. But when he came home from school his parents gave him $250 for a suit and told him to go look for a job. He did, interviewing at Continental Bank, First Chicago and other banks, but he said he had “broader expectations,” as well as aspirations to go to Washington to work for a congressional committee. A family friend suggested he get an IMM (International Monetary Market) seat at the CME for $10,000, but it wasn’t until May 1977 that he got a membership.
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TIM BRENNAN TOOK THE LEAP TO A NEW FRONTIER OF TRADING |
Tim Brennan did not know what he wanted to do after graduating from a small liberal arts college with a degree in psychology. As with many other traders from this era, his mom had a friend who could get him a job as a runner at the Chicago Board Options Exchange.
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10 MOST CLICKED STORIES OF THE WEEK |
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4 MOST CLICKED MARKETSWIKI PAGES OF THE WEEK |
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| | THE SPREAD – July 30, 2021 |
Earnings season in full bloom; Options lead year-to-date derivatives volume; Robinhood’s IPO; John gets real with Get Real VR: Conflicting factors underpin volatility; Cboe cleared for fall European competition; and the Cboe Options Institute’s Kevin Davitt talks about vega in this week’s “Term of the Week.”
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| | The John Lothian Daily Update is a podcast turning the daily JLN hits and takes comments, our original content and the stories and quips in the top box of First Read into a daily podcast.
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| | THE COMPLETE 2021 MARKETSWIKI EDUCATION WORLD OF OPPORTUNITY VIRTUAL EVENT & ADDITIONAL VIDEOS |
The 2021 JLN MarketsWiki Education World of Opportunity was held on July 21 as a virtual event and featured an interview with Small Exchange CEO Donnie Roberts and an interview of and presentation from Get Real VR partner Ed Haravon.
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| | CHARLES FARRA – THE PATH TO ELECTRONIC TRADING HAS MANY STEPS AND FLIGHTS |
For Charles Farra, there were many steps on the path to electronic trading that saw him start as a runner for Cargill Investor Services in 1981 and work his way up in the organization. He would serve the firm in Chicago, London and Tokyo during a time when new products and big markets led to incredible growth in the futures industry.
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| | CANNABIS SHARES PULL BACK AS U.S. REGULATORY MOMENTUM FIZZLES |
Nasdaq IR Intelligence analyst Saleem Daya explains why the sector’s heated year-end performance cooled in Q2; cites rising yields, retail investor fatigue as action on U.S federal legislation remains stalled.
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| | OPTIONS CONTINUE TO LEAD DERIVATIVES VOLUME UPTREND, BUT Q2 LAGS, FIA DATA SHOW |
Global futures and options volumes continued to trend higher in the first half of 2021 compared to both 2020 and 2019, with growth largely driven by options trading, according to Futures Industry Association data released late Tuesday. Exchange-traded futures and options volume was up 32.1% compared with the total logged in the first six months of 2020, with 28.9 billion contracts traded in the first half of 2021.
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| | YRA HARRIS – OPEN OUTCRY TRADERS HISTORY PROJECT – PART 2 |
In the early days of the Chicago Mercantile Exchange, economic opportunity was phenomenal, said CME currency trader Yra Harris. ”I used to say it was like Jed Clampett [the character in the old TV series “The Beverly Hillbillies” who struck it rich] shooting at the ground and hitting oil.” It was a booming business.
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| | YRA HARRIS – OPEN OUTCRY TRADERS HISTORY PROJECT – PART 1 |
Yra Harris was on a career track to become a college professor in the 1970s, earning a master’s degree in economics. But when he came home from school his parents gave him $250 for a suit and told him to go look for a job. He did, interviewing at Continental Bank, First Chicago and other banks, but he said he had “broader expectations,” as well as aspirations to go to Washington to work for a congressional committee. A family friend suggested he get an IMM (International Monetary Market) seat at the CME for $10,000, but it wasn’t until May 1977 that he got a membership.
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| | LARRY ABRAMS – OPEN OUTCRY TRADERS HISTORY PROJECT – PART 1 |
Larry Abrams’ career started with a chance encounter on a ski lift which was prompted by a good deed. He and some friends helped to push a stranded car that was stuck during a blizzard in Park City, Utah. The next day on the lift line he was paired with the man whose car he had helped push out the night before, who happened to be an options market maker at the Cboe. By the time he got off the lift line, he knew that was what he wanted to do.
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