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Chapter Eleven
Tony Saliba:
Been There, Done That in Chicago |
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Tony is a floor trader and president of International Trading Institute. He is a trading legend in Chicago with more than thirteen years of floor trading experience. |
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Neal: With all the significant changes taking place here in Chicago, the concept of trading Chicago style has certainly changed from the concept of simple pit trading. What is your view of this, Tony? |
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Tony: Coming from the options trading side, I have a different viewpoint from many of the traders in the Chicago marketplace. This is mainly due to the fact that fewer than one-fourth of Chicago floor traders are trading options, the other three-fourths I would group into futures (of all different instruments) and stock traders. Had you asked me that question two years ago, I would have said the "face of change" was already showing itself at the CBOE. This is because their handheld project, which began in late 1988 or early 1989, had remanifested itself as a viable alternative to straight, hand-to-hand, open-outcry pit trading where things have to be carded up. So even two years ago, it was evident to those trading at the CBOE that a major change was afoot. |
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The rapid pace of change that we're seeing here in Chicago in terms of the media and those news items that are at the fore- |
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