Tuesday, December 04, 2012
If you were asked to name the financial powerhouses of North America, you will no doubt cite the Big Apple and the Windy City. But there are two other cities that are leading financial centers in their own right and appear to be poised for explosive growth – Toronto and Boston.
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Thursday, October 11, 2012
Organising an event in Chicago posed certain obstacles but those were far outweighed by the opportunities. I learned that the Chicago market is substantively different from both London and New York, the major bulge bracket firms while no doubt having some presence are not the main cut and thrust of Chicago; smaller and more nimble 'Prop Shops' are the lifeblood of this city. I also discovered that many of these 'Prop Shops' had been founded by ex CME floor traders who wanted to spread their wings a little, and in some cases a lot. Derivatives are what Chicago is best known for and that might have been the original specialty of these creative and adventurous operations, but in 2012 they have a much more diverse portfolio of interests.
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Thursday, February 16, 2012
What do tulips have in common with OTC derivatives, you ask? Allow me to introduce you to the phenomenon called the Dutch Tulip Mania of 1637. During the height of the bubble in the winter of 1636, tulip traders were making fortunes of over $61,000 adjusted to current U.S. dollars per month. If ever there was a time to begin gardening, this was it.
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