Ray Cahnman

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Ray Cahnman
Ray Cahnman.jpg
Occupation Chairman
Employer TransMarket Group
Location Chicago
Website www.transmarketgroup.com

Ray Cahnman is the chairman of TransMarket Group LLC. He is a long-time Chicago Board of Trade member who started his career there in 1975 trading Ginnie Maes and Treasury bonds in the pits.[1]


He became the first independent trader to trade financial products at Shatkin Trading Company, which led to a partnership to arbitrage US Treasury cash/futures. In 1980 Cahnman established a CBOT clearing firm, Aardvark Financial, which became a clearing member of the Chicago Mercantile Exchange in 1981 and was renamed TransMarket Group in 1984.

Cahnman qualified as an independent floor trader on London International Futures Exchange and Sydney Futures Exchange in 1989. He was a director of the Chicago Board of Trade from 1999-2002.

An early proponent of electronic trading, he became one of the relatively few to successfully adapt his floor trading skills to an electronic platform. He has traded electronically on CBOT, CME, LIFFE, BrokerTec, E-speed and Eurex and has trained and employed many highly successful traders over his career.[2]


Cahnman has a bachelor of science degree in mathematics from DePaul University and a master of business administration degree from Tulane University.

MarketsWiki Education Videos


  1. Bronstein, Arlene Michlin (2008) My Word is My Bond: Voices From Inside the Chicago Board of Trade, John Wiley & Sons, Inc. ISBN 978-0-470-23898-1
  2. About TMG. TransMarket Group.