He was a philosophy major in college and recruited to the exchange by a former professor who worked in the industry. He was hired by by Ralph Peters in a research role.
He bought his first membership with the help of Leslie Rosenthal and a bank loan.
After taking a break from trading, and living in Paris, France, Morowitz came back and formed USA Trading to serve the needs of independent futures and options traders. USA Trading has cleared through several different clearing firms and today is a division of INTL FC Stone.
Morowitz was a witness at a CFTC hearing for Joel J. Fetchenhier, a CBOT member caught up in the FBI sting of the markets in 1990 when he was applying to be re-instated as a member of the exchange.
JLN News Feed
Record Wall Street rally triggers boom in options; Mania has taken hold in the equity market and there is “no respect” for risk, says one strategist
[JPX,TSE,OSE,TOCOMCancellation of seminars/events and temporary closure of visitor facilities in response to novel coronavirus outbreak]
Distributed Ledger Technology Implementations Require Refreshed Approach to Security, According to New DTCC Paper
Nasdaq Announces End-of-Month Open Short Interest Positions in Nasdaq Stocks as of Settlement Date January 31, 2020
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