A recent article in the FT titled, ‘Chicago retains role as capital of derivatives industry’ (https://www.ft.com/content/3b43d082-acf8-11e6-ba7d-76378e4fef24) explains the role played by generations of traders in the Chicago markets. UCX, founded by former floor traders, is a perfect example of taking floor experience and using it in the development of new markets and asset classes. Chicago has always been on the forefront of trading. A long history for both the CBOT and the CME prior to the merger gives one a glimpse into a group of Chicago traders who have made a global difference. Chicago is the innovation capital of the world when it comes to derivatives trading and the recent announcement into blockchain technology provides the industry with the necessary leadership into a changing financial landscape.
UCX is lucky to have those in management who have, first hand, been part of the unique ‘Chicago floor experience’. It gives UCX the needed insight into the product development and services which are being created and also gives the digital world the necessary thought leaders as the need for risk management becomes critical.