What Is The Future Of Trading? by Jayanthi Gopalakrishnan
At The Start Of Our 20th Year, We Ask:
What Is The Future Of Trading?
The trading exchanges have been going through various
changes lately, shifting from member-sponsored entities to
for-profit organizations. They are also introducing more
products, giving us a greater array to choose from. What does
this portend for the trading industry? To find out, STOCKS &
COMMODITIES Editor Jayanthi Gopalakrishnan spoke with Bob Fitzsimmons of the Nasdaq LIFFE market, David Prosperi
of the Chicago Board of Trade (CBOT), and William J. Rainer
of the joint venture of the Chicago Mercantile Exchange
(CME), the Chicago Board Options Exchange (CBOE), and
the CBOT, formally named OneChicago, LLC. Here’s what
they had to say.
Bob Fitzsimmons was most recently with
Nasdaq’s former parent, the National
Association of Securities Dealers. Prior
to that, Fitzsimmons was a managing
director at Nomura Securities
International, running its futures
business. He started the futures division
for Nomura in 1990, and within three
years, the division was one of the top 20
futures commission merchants (FCMs).
Before joining Nomura, he was a broker
in the Treasury bond options pit for
Kidder, Peabody & Co.
Fitzsimmons became a member of
the CBOT in 1987, and was a member of
the CME. He was an active member
participant on FCM committees at both