Jack Sandner is a former chairman of the Chicago Mercantile Exchange and longtime board member of the CME Group. In part two of this interview with John Lothian News for the MarketsWiki Education Open Outcry Traders History Project he talks about how the S&P 500 and Eurodollars started, the tax straddle that caused tax laws to change and his take on spoofing.
He explains how he was involved with the start of broker groups, which allowed brokers to protect themselves and be able to take occasional vacations. Sandner explains how the post market close was created out of the problems exposed by the FBI investigations of the markets.
He tells the story about how CME came up with the name of Globex, which replaced the initial name PMT for Post Market Close. Sandner was the one who submitted the name Globex to a contest to name the platform.
Produced by Mike Forrester