Interview: Trading Futures With Scott Slutsky by Jayanthi Gopalakrishnan
From Chalk Boards To Screen Trading
Scott Slutsky has more than 30 years’ experience in the futures industry. For 20
years he was a currency trader and broker at the Chicago Mercantile Exchange.
In addition to trading for his own account, he managed and filled orders in various
trading pits for firms such as Goldman Sachs, Morgan Stanley, and Lehman
Brothers. Long active in industry affairs, he is a former director of the CME and
is a current director of the CME Group Political Action Committee. In 2012, he
formed BRICS Global Markets, where he is president and CEO. Based in Chicago,
the firm offers specialized global clearing and execution services, financial
consulting services, and fund management expertise. Since 2000, he has traveled
the world promoting the futures industry. He is the author of three books: Masters
Of The Futures, The Complete Guide To Electronic Trading, and The Promises
And Pitfalls Of FX.
Stocks & Commodities Editor Jayanthi Gopalakrishnan spoke with Slutsky on
September 9, 2013 about the transition from floor trading to screen trading and
what he enjoys most about the industry.
Scott, how did you get interested
in the financial markets?
I consider myself lucky — I
basically grew up in the futures industry.
My father was an egg trader at the Chicago
Mercantile Exchange (CME) in the
early ’60s. My first summer job was at
the CME working on the chalkboards in
the foreign currencies. In those days, we
had to run back and forth to the different
currency boards putting up bids, offers,
and trades. After the close, we would
take a Polaroid picture of the settlement
prices and eventually that went out across
the financial wire services to customers
around the world.
Having developed a passion for currencies,
I later purchased my own CME
membership and traded the Swiss franc,
Japanese yen, and the euro currency for
the next 25 years. Then, in 1990, I was
fortunate enough to have been elected to
the CME’s board of directors, and that
truly was the best learning experience
of my life. I had the unique opportunity
to participate in shaping the future of