John talks with Henry Schwartz, president of Trade Alert LLC, for “John’s Take”

JOHN’s take

John talks with Henry Schwartz for “John’s Take”

The (little) Exchange is the Hot Commodity

This is John Lothian with John’s Take for The Spread for John Lothian News January 28, 2022. Today I will share some key video clips with you of an interview I did with Cboe’s Senior. Director, Head of Product Intelligence, Data & Access Solutions, Henry Schwartz, for The Path to Electronic Trading video series from MarketsWiki Education and John Lothian News.

Henry Schwartz wanted to be an actor when he grew up, but then he decided he wanted to make a lot of money. Like a lot of other geeky kids who grew up watching movies like War Games and Tron, Schwartz was interested in computers. And that interest and a friend’s father changed his career plans.

Clip One

Henry’s father was a lawyer who wanted Henry to follow him into the practice of the law. But that is not what happened, instead this is.

Clip Two

Schwartz’s first summer on the floor of the CBOE was in 1987 and this is how he described the experience.

Clip Three

Then one day Schwartz runner’s job at Hull Trading almost turned into being a flier in what he describes as one of his funniest experiences.

Clip Four 

Schwartz figured out in 1987 that markets have risk with long tails that could follow him all the way back to college, but that cash is king.

Clip Five

When Hull Trading wanted to open an office in Frankfurt to trade the newly electronic markets, Schwartz raised his hand and his geeky gamer side paid off again.

Clip Six

But it was not really the Frankfurt office Schwartz wanted, but the Paris office. This proved a powerful lesson in the difference between open outcry trading on the Monep and electronic trading on DTB. 

Clip Seven

You can watch the entire two part interview with Cboe’s Henry Schwartz next week on

This has been John Lothian.



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