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

-Chicago’s success in the financial markets has gotten short shrift. That’s too bad, because it’s a great story. . . Leo Melamed has been at the heart of the tale for more than 40 years . . – (The Wall Street Journal)

-After reading the book For Crying Out Loud: From Open Outcry to the Electronic Screen, one feels like he or she has received a personal tour of the Chicago Mercantile Exchange from the founder of financial futures himself, Leo Melamed. . . [the book] leaves readers with a feeling that they better understand the dynamics and values of the exchange and its members. And who better to have at your side on this historical journey than the man who stood at the helm, guiding the exchange every step of the way?- (SFO magazine)

“Focuses on the dramatic transformation of trading that occurred during the 10-year period spanning 1996 to 2006, when, by and large, the modern futures exchange was born. . . Particularly enjoyable are the colorful trading stories from Melamed’s many decades at the exchange, such as the night of the 1987 stock market crash when one of the exchange’s largest players had an immense margin call, and Melamed himself was forced to call the firm’s chief executive to demand payment. “We are the Chicago Mercantile Exchange,” Melamed recalls saying on that 2 a.m. call. “And you owe us a billion dollars” . . . In an industry full of colorful characters and inspiring stories, Leo Melamed stands out. His latest book is a satisfying read for traders, innovators or young minds in search of their own American dream.” (Smartmoney.com)

“Chicago’s success in the financial markets has gotten short shrift. That’s too bad, because it’s a great story. . . Leo Melamed has been at the heart of the tale for more than 40 years . . ” (The Wall Street Journal)

“After reading the book For Crying Out Loud: From Open Outcry to the Electronic Screen, one feels like he or she has received a personal tour of the Chicago Mercantile Exchange from the founder of financial futures himself, Leo Melamed. . . [the book] leaves readers with a feeling that they better understand the dynamics and values of the exchange and its members. And who better to have at your side on this historical journey than the man who stood at the helm, guiding the exchange every step of the way?” (SFO magazine)

Author Leo Melamed is the father of modern futures markets and the person largely responsible for making the CME Group the success it is today. He is to futures what Thomas Edison was to the use of electricity. Now, in For Crying Out Loud, Melamed covers not only the revolutionary developments in futures markets since his previous book, but also the battles, personalities, and strategies that transformed the futures markets from the open outcry birth to the electronic future–where technological and global issues are interwoven with financial markets.

Throughout these pages, Melamed discusses the values to companies and countries of a market that can hedge almost any risk, as well as the resulting benefits to the standard of living of people around the world. He also examines how financial futures have allowed investors to manage generalized risks, such as currency risk, to both reduce exposure or capture increased profits within a market structure that is free from failures and current debt-laden problems. Along the way, you’ll become familiar with the trends, technology, and products that have shaped the world of futures and options, and discover what this dynamic and demanding industry may look like in the years ahead.

In the midst of the unprecedented global financial meltdown–as marquee names from Merrill Lynch to AIG faltered or failed–the CME performed its operational functions without a hitch. How has the “house that pork bellies built” achieved such a record of unparalleled success? How has it grown from a modest exchange trading livestock futures to become the colossal global powerhouse of futures and options it is today? It’s all right here For Crying Out Loud!