I was on the floor that day and remember the old time ag guys coming up and saying “it will never work.”
On this day in 1997, the e-mini S&P 500 futures contract was launched by CME. It quickly became the most popular equity index future in the world and helped usher in the electronic trading era. The contract routinely trades over $9 billion in notional daily. Happy Birthday ES!
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File that one under “freezing cold takes”
End of conversation
New conversation -
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We shall all pause and remember Barry Lind. He sailed upwind into the political forces behind automation. In hindsight his efforts benefited all.
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