For Crying Out Loud: From Open Outcry to the Electronic Screen

In Escape from the Pits , Leo Melamed covers the revolutionary developments in futures markets since his previous book and details the challenge in the transformation of futures from their open outcry birth to an electronic future, as well as the technological and global issues surrounding financial markets. Throughout, he discusses the values to companies and countries of a market that can hedge almost any risk, and the resulting benefits to the standard of living of peoples all over the world. He also examines how financial futures have allowed investors to manage generalized risks to both reduce exposure or enhance value for themselves and capture increased profits. Along the way, readers will become familiar with the trends, technology, and products that have shaped the world of futures and options, and discover what’s to come in the market. Leo Melamed (Chicago, IL) is the recognized founder of financial futures. In 1972, as chairman of the Chicago Mercantile Exchange (CME Group), he launched currency futures and created the International Monetary Market (IMM)–the first futures market for financial instruments. He is Chairman Emeritus of CME Group and CEO of Melamed & Associates, Inc.