You are here

No looking back for exchanges after entering the Internet age

Bourses can prosper and expand only if they are constantly mindful of the potential of change in economics and world markets and willing to adopt innovations as necessary, says the founding father of futures markets
Tuesday, February 10, 2015 - 05:50
BT_20150210_RSLEO_1507016.jpg
The personalities in Singapore with whom we dealt were well versed in trading and willing to give up their Gold Exchange in favour of a new Simex entity, says Mr Melamed (right), seen here with Mr Ng.

LEO Melamed has been described as the founding father of futures markets, a label that might sound like a bit of hype but is in fact not far off the mark. His role in developing the Chicago Mercantile Exchange (CME) as a premier futures market and in the setting up of the International Monetary