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Zero-Sum Game
By: Erika S. OlsoneBook Publisher: John Wiley & Sons
Imprint: Wiley
Format: ePub Encrypted (DRM)
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In 2007, a stranger-than-fiction multibillion-dollar bidding war for the Chicago Board of Trade (CBOT) erupted between the Chicago Mercantile Exchange (CME) and Atlanta’s IntercontinentalExchange (ICE). Zero-Sum Game: The Rise of the World’s Largest Derivatives Exchange takes readers behind the scenes of this battle to tell the gripping—and often comical—story of how the historic merger between CME and CBOT almost didn’t happen.
Author Erika S. Olson, a managing director at CBOT during the bidding war, delivers a blow-by-blow account of the fight for the world’s oldest futures exchange, taking you inside CBOT’s landmark Chicago Loop headquarters, onto the high-octane trading floor, and into executives’ offices.
Through the lens of the CME/CBOT deal, Zero-Sum Game : Introduces the colorful and outspoken personalities who call the shots in this close-knit and frequently misunderstood industry Details the reasons behind the recent, spectacular growth of a market that’s existed for over 160 years Explains how derivatives affect the lives of average consumers worldwide by influencing everything from interest rates on credit cards to the cost of a cheeseburger to the price of a gallon of gas Reveals the inner workings of futures exchanges, and differentiates the various types of derivatives that are routinely lumped together and vilified by the media
Erika S. Olson is a former managing director of the Chicago Board of Trade and spent over ten years working in and consulting to the financial services industry. She received her MBA from Harvard Business School and her BBA from the University of Michigan Ross School of Business.
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| Title of Business & Economics eBook: Zero-Sum Game | |
| Release Date: 11-02-2010 | |
| Publisher: Wiley |
This eBook download is available in the following formats:
| Parent title | Zero-Sum Game |
|---|---|
| Encrypted (DRM) | Yes |
| SKU | 9780470937044 |
| File size | 2090 |
| Security | n/a |
| Printing | Not allowed |
| Copying | Not allowed |
| Read aloud | No Sys requirements Download reader |
| Devices | Samsung Tablet, Apple Ipad & Iphone, Barnes & Noble Nook, Kobo eReader, Aluratek Libre, Iliad, Nokia, Blackberry, Hanlin |
| Note | Excellent navigation features are available via Adobe such as bookmarks and a quick access table of contents. Text search is easily accessible. An Adobe DRM-protected file is different than a pdf file in that it uses Adobe DRM (Digital Rights Management) technology, which authors and publishers use to protect their content from illegal online distribution and to set certain privileges such as restrictions on copying and printing. |
Zero-Sum Game
Chapter One
Welcome to the Jungle
July 11, 2006
"The floor" is a marvel of chaos, and one of very few places in this world that truly must be seen to be believed, especially at 1:14 p.m. every weekday. When the clock hits 1:14, an ear-piercing bell rings to remind everyone that only 60 seconds remain before the floor closes and all trading must stop. The bell sounds ... a split-second passes ... and then all hell breaks loose. What was already a loud buzz of traders shouting bids and offers at each other escalates into a deafening roar. The throbbing sea of colored jackets transforms into a pressure cooker of sporadic explosions—bodies jump, arms flail, hands frantically clap and wave, and every once in a while, a fist flies. Time seems suspended as brows bead with sweat, elbows jostle for position, and mouths open even wider in the final throes of trading ecstasy. And then suddenly—as quickly as it had begun—the mayhem ends. Shredded trading cards launch toward the sky as unfortunate souls pack up and try to convince themselves they'll do better tomorrow. Those who were successful might flash a quick smile as they head out, but otherwise their faces reveal no sign of what they just went through, except for perhaps a faint red glow.
I looked down at it all with awe. I had never laid eyes on a trading floor before—unless you count the scene from Ferris Bueller's Day Off where Ferris and Sloane contemplated marriage as Cameron mimicked traders not too far from where I now stood. For the first five years I lived in Chicago, I had neglected to visit th
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