JACK SANDNER – OPEN OUTCRY TRADERS HISTORY PROJECT – PART TWO

Jack Sandner is a former chairman of the Chicago Mercantile Exchange and longtime board member of the CME Group. In part two of this interview with John Lothian News for the MarketsWiki Education Open Outcry Traders History Project he talks about how the S&P 500 and Eurodollars started, the tax straddle that caused tax laws to change and his take on spoofing. 

He explains how he was involved with the start of broker groups, which allowed brokers to protect themselves and be able to take occasional vacations. Sandner explains how the post market close was created out of the problems exposed by the FBI investigations of the markets.

He tells the story about how CME came up with the name of Globex, which replaced the initial name PMT for Post Market Close. Sandner was the one who submitted the name Globex to a contest to name the platform.

Produced by Mike Forrester

Other Traders

KENNY POLCARI – OPEN OUTCRY TRADERS HISTORY PROJECT PART 1

KENNY POLCARI – OPEN OUTCRY TRADERS HISTORY PROJECT PART 1

When he was young, Kenny Polcari wanted to be in politics – preferably to eventually be president of the United States. But, he said, “Thank God none of that came true.” When he was 19, he interned on the floor of the New York Stock Exchange. He knew nothing about the...

read more
TOM GREENE CELEBRATES 50 YEARS ON WALL STREET AT NYSE

TOM GREENE CELEBRATES 50 YEARS ON WALL STREET AT NYSE

HEAD OF NYSE TRADING FLOORS WORKED HIS WAY FROM RUNNER TO HEAD OF COTTON EXCHANGE AND ON TO NYSE TRADING FLOOR HEAD Tom Greene wanted to be a civil servant, perhaps a fireman, when he was growing up. However, despite his best efforts, those jobs went to returning...

read more