A bit of nostalgia - Opening day CBOE 1973

Discussion in 'Options' started by ajacobson, Jan 24, 2018.

  1. The first floor in the CBOT building.
    niko79542, helgen_1, truetype and 3 others like this.
  2. There's kind of alot of females there...I thought that world, specially in its early days, was predominately males. (even for today in this modern day of 2018)
  3. JackRab


    They're probably clerks... typists and trade admin...
  4. Nice!
    Are you on there, Alex?
    PennySnatch likes this.
  5. JackRab


    Is he that old?
  6. Wasn't the age factor. I thought Alex founded some of the CBOE industry council the training arms. Figured he was involved with CBOE since its early days.

    I can't believe how big the CBOE has become. 20% of my expenses goes to CBOE, the other 40% goes to IBKR. I'm long on CBOE. IBKR, havn't decided.
    JackRab likes this.
  7. Not there. I'm almost old enough.
    Lot's of women because CBOE was the great equalizer - many of those folks were the next generation of the CBOT and part of the idea was to crack the traditions.
    I bought an IMM seat later that year. Didn't join CBOE until 1983 from Merrill Lynch. Left in 2000 to start the ISE. Not a popular topic in Chicago.
    The CBOE seat was actually buy now - pay later. Then were given to CBOT members - who had full trading rights via a process called exercise. The were $10,000 list.
    The big firm on the floor then was A.G. Becker and a good number of the members came from the NYC garment manufacturers community. The OTC dealers didn't join and expected it to fail. Within about a year the OTC dealers were pretty much gone.
    I'll post some more historical pictures over the next few weeks.
    Our desk is just rolling in so it's time to go to work.
  8. RedDuke


    Thank you for posting history. Love it!!!!!!
    niko79542 likes this.
  9. JackRab


    Do you mainly trade Europe?
  10. Most of our money is Europe. We roll in about 11 PM Chicago. I write a market commentary that goes out to the entire firm around Midnight. The main office is in London and most of my desk are Brits. Little by little we are transitioning out of the EU and Brexit was a huge catalyst. We plan to open a third desk in Hong Kong by the end of 18 - by then London should be closed and the resources reallocated to the US and Hong Kong.
    It was either come here or move to Frankfurt and none of the talent wanted Frankfurt.
    #10     Jan 25, 2018
    JackRab likes this.