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87th Edition
✍🏽 This Week on Landon’s Loop:
🗣 Chicago’s Trading Legacy
📊 Chart of the Week
📆 Events Around the City
First off, I hope you all had a wonderful Thanksgiving! 🦃
I went ahead and categorized sections of Landon’s Loop to make it easier to find archives. Now you can easily browse through all 87 editions to find the topics you enjoy most! 👇🏽
🗣 Chicago’s Trading Legacy
Chicago is the heart of global trading innovation.
Let’s explore our city’s rich trading history to understand how Chicago redefined global markets:
The Birthplace of Futures Trading
The Chicago Board of Trade pioneered futures trading, introducing standardized grain futures in 1865.
The Chicago Butter and Egg Board, which later became the Chicago Mercantile Exchange (CME), began by trading perishable goods before expanding into frozen meats, livestock, and eventually financial instruments.
In 1972, the CME introduced the first financial futures contracts, starting with foreign currency futures. This innovation marked a turning point, significantly impacting global finance and the futures trading industry.
From The Pit to Pixels
Chicago's iconic open-outcry “pit style” trading floors, defined by hand signals and shouted orders, dominated until electronic trading emerged.
The launch of CME’s Globex platform in 1992 marked the beginning of automated trading, allowing for 24/7 electronic markets.
Firms in Chicago embraced HFT (high frequency trading), leveraging algorithms to execute trades in milliseconds. This shift helped Chicago remain competitive as trading became increasingly tech-driven.
Bitcoin to Beyond
In 2017, CBOE and CME launched the first regulated Bitcoin futures, positioning Chicago as a leader in cryptocurrency market innovation.
Illinois Institute of Technology created the world’s first quantitative trading degree which reflects Chicago’s investment in training the next generation of traders.
📊 Chart of the Week
In October 2024, Chicago’s labor force reached its highest level since January 1990, surpassing the previous record set in June 2000 by 4,000 residents.
Compared to October 2019, the labor force grew by 51,529 people, with 13,603 more residents employed.
📆 Events Around the City
Physician-Led Healthcare Innovation Panel
Monday
Founders Run & Coffee!
Tuesday
Chicago Business Leader Soiree
Tuesday
Reach out directly to Andrew Gunderman
Anthropic Guest Speaker
Wednesday
Consumer App Circle Breakfast with Elected Officials
Wednesday
Inside the Loop Biweekly Coffee ☕️
Thursday
Chicago Futurist Meetup: Fueling Compute
Thursday
Hosted by Landon Campbell
Contact me directly if you're in Chicago's data center, nuclear, or energy infrastructure sectors.
#85 - The Story of Livongo
#83 - Chicago's Q3 VC Scene
👋 See you next week!
From @BusinessInsider
Chicago is a top major metro to raise a family.
— Landon (@landon20s)
5:51 PM • Nov 29, 2024