TOM ZAGARA – PART 2 – OPEN OUTCRY TRADERS HISTORY PROJECT

Tom Zagara has lots of great stories to tell from his time as a trader at the Chicago Board Options Exchange. There were so many, we broke his interview into two parts. In Part 2 of his interview for the Open Outcry Traders History Project, Zagara tells the tale of the drug bust on the CBOE trading floor and how the runners and clerks on the floor dumped their drugs into the garbage cans and then dove in to retrieve them when the FBI had left. He talks about how he and other traders would protect brokers and eat bad trades when necessary to be on the brokers’ good side when orders came to the trading pit. Zagara almost went bankrupt twice, but learned his lesson. Sometimes he learned it the hard way. This is part two of a two part interview Tom did with John Lothian News for the Open Outcry Traders History Project.

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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