On Thursday, April 25th through Friday, April 26th the CRMER students had the unique opportunity to travel to Chicago to visit with some leading industry partners for the risk fellows program. Among one of the stops was a visit to the CME Group, as they are one of the world’s leading and most diverse derivatives marketplace where the world can come together to manage risk. CME Group represents the merger of the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), the New York Mercantile Exchange (NYMEX), its commodity exchange division, Commodity Exchange, Inc. (COMEX) and the Kansas City Board of Trade (KCBT). Since the merger, CME is able to offer the widest range of global benchmark products across all major asset classes.
Upon arrival we were greeted by Brenda Tucker who had previously came and visited with us at Kansas State University. The agenda for the day included visiting more with Brenda and taking in more knowledge about the CME Group as well as watching and experiencing the trading floors.
The trading floors were a very unique opportunity to be able to experience. At first we stood above and looked out over the trading floor. Brenda explained what each pit housed as well as what all the screens ment running around the room. She also explained how the trading floors operated and what certain people’s roles were down in the pits. Next we were then able to go down and enter into the trading floor to see the live action. The pits were rather quiet that day…on a scale of 1 to 10 with 10 being the loudest Brenda rated it at 3. However, when the markets were nearing closing at 1:15pm crazy commotion started.
Out of everything, the most unique thing about the trading floors is the diversity that exists among the traders. Not only does diversity exist between the traders located in one single pit, but also diversity exists across all pits from agricultural commodities to currency to the S&P 500. It was also great to see the job setting that a trader would work in if they were out on the trading floor. At the end of our unique visit we were all impressed at what all we saw and learned. We were also all very greatly for the opportunity that the CME Group was able to provide to the CRMER Students as well as Brend taking time out of her busy day to make this event possible.
In photo below a group shot of CRMER Students at the CME Group visitor center.