Buck Haworth – Open Outcry Traders History Project – Part One

Buck Haworth has been a consultant, a CPA, a back office accountant, an exchange audit department executive, a foreign exchange arbitrage desk manager, an exchange member, a scalper, a spreader, an exchange board member and officer, and a technology executive.

He sat down with John Lothian News for an interview for the MarketsWiki Education Open Outcry Traders History Project. He talked to us about starting as an accountant at a big national firm but not being happy with his career trek. His father always loved the stock market, so he turned his attention to the markets. He rejected an opportunity to start at the CBOE with a job for a mere $300 a month, as he had a mortgage and three kids at home.

Instead, he eventually joined trader Ralph Peter in a back office role. After long hours and many projects, he left and joined the Chicago Mercantile Exchange to help build out a professional audit unit. He eventually left the CME to take a job running an FX arbitrage operation, where he got his first taste of the trading floor. 

Haworth talked to us about his experiences trading, his role with the board of directors, and the demutualization and inside politics of the CME board. He gives a clear and simple explanation about the realities of the trading floor and why you had to deal with that reality.

This is part one of a two-part interview not to miss.

Produced by Mike Forrester

John J. Lothian & Company, Inc., MarketsWiki Education and John Lothian Productions are pleased to announce plans for a large scale video project to collect the history of the open outcry era and traders’ personal stories.

Additionally, John Lothian Productions plans to develop video documentaries about specific themes and subjects emerging from the collected personal histories.

The project is modeled on the Veterans History Project signed into law by President Bill Clinton in the 1990s. In this case, rather than capturing the experiences of veterans of warfare and conflict, we are capturing the personal market experiences of those who participated in open outcry markets around the world. Traders from Chicago to London to Paris to Sydney to Singapore and beyond are welcome to submit videos.

Other Traders

JAMES GORDON: FORMER TIMBER HILL OPEN OUTCRY TRADER STORY

JAMES GORDON: FORMER TIMBER HILL OPEN OUTCRY TRADER STORY

James Gordon spent eight years working on the Cboe trading floor as a trader for Timber Hill. His experience, and how he was treated as a trader, was different from others’. He found his way to the exchange through a brother who was a clerk at the CME. Gordon was an...

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MAUREEN OBERMEIER: OPEN OUTCRY TRADERS HISTORY PROJECT

MAUREEN OBERMEIER: OPEN OUTCRY TRADERS HISTORY PROJECT

Maureen Obermeier started on the CBOE floor the summer after her freshman year of college and never left. She helped some friends get jobs that summer, and some, like her, stayed and built careers in the markets. She became a CBOE member when she turned 21 and filled...

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