Art Margulis – Open Outcry Traders History Project – MarketsWiki Education

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Art Margulis answered a job advertisement in the Chicago Tribune for a research analyst position at the Chicago Board Options Exchange after graduating from Princeton. That was his entry into the world of open outcry trading.

At the CBOE, Margulis met Blair Hull, who was in the process of starting up his own firm, Hull Trading, and needed a research analyst. Margulis joined Hull Trading and progressed to become a trader and eventually a partner in the firm.

At Hull, they were early pioneers in the team trading approach and Margulis helped Hull develop traders in Chicago’s trading pit and beyond. Margulis only traded in the CBOE’s SPX pit for the equivalent of three years but was on a membership badge for many more.

After Hull Trading was sold to Goldman Sachs, Margulis joined Goldman. However, he would go on later to found his own firm, Cognitive Capital. Here is the story of Art Margulis for the MarketsWiki Education Open Outcry Traders History Project.


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