Statement by Leo Melamed, Chairman Emeritus
October 17, 2006
represents the culmination of a Don Quixote impossible dream.
An idea that was born in the 1970s with the launch of financial
futures at the CME and then at the CBOT. An ambition forged when
our two exchanges ushered in the modern era of derivatives. A
vision that ignited financial innovation within the American
financial service sector and made it first in the world.
represents a goal that some of us harbored for the past three
decades, logical and compelling. One that required time. Time
for our ideas to be embraced the world over. Time for our institutions
to mature and become public. Time for our cultural heritage
to harmonize around the electronic architecture of today's
information technology. And above all, it required a coalition
of skilled leaders, beginning with the chairmen of both exchanges
who had the good sense and fortitude to make it happen. We
have today fulfilled a destiny that will preserve Chicago as
the global capital of risk management.