Charlie Carey and Terry Duffy: Dynamic duo bends laws of (exchange) physics

摘要

Some might say the reason for the merger of the Chicago Mercantile Exchange (CME) and Chicago Board of Trade (CBOT) were hogs. More specifically, the hog futures pit at the CME where then CBOT member Charlie Carey went to go trade when the grains were a bit slow in the early 1980s. "We both had a passion for markets, and we both had a passion for agricultural markets," CME Group Executive Chairman Terry Duffy says today, remembering when his friend Carey and he were locals in the hog pit that started a long friendship that was the lynch pin for the coming together of two great Chicago exchanges that today form the largest futures exchange in the world. The two men socialized throughout the years, while Duffy followed his path to become CME chairman in April 2002, and now CME Group, Carey followed his path to become chairman of the CBOT in March 2003.