The Open Outcry Traders History Project

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The Open Outcry Traders History Project is a collaborative initiative undertaken by John Lothian News under its MarketsWiki Education brand. This project is dedicated to preserving and documenting the rich history and culture of open outcry trading in financial markets around the world.[1][2][3]

Background[edit]

The Open Outcry Traders History Project was conceived by Thomas F. Cashman as a video project for John Lothian News to capture the history of the traders at the Chicago Board of Trade and other exchanges as floor trading and floor traders were disappearing. Cashman was inspired by the Veteran History Project, signed into law by President William Clinton, to capture the personal stories of veterans of World War II, Korea and Vietnam for eternity at the Smithsonian Museum.

With the rapid adoption of electronic trading, the traditional open outcry method of trading, where traders would conduct transactions face-to-face on the trading floor, was disappearing. Recognizing the importance of preserving the stories, experiences, and knowledge of open outcry traders, John Lothian News initiated this project.

Fundraising[edit]

To support MarketsWiki Education's efforts to preserve industry history through The Open Outcry Traders History Project and The Path to Electronic Trading video series, John Lothian News has a GoFundMe campaign to raise $300,000. In 2021, Trading Technologies pledged $20,000 in matching funds to the campaign, which were successfully matched.[4]

Objectives[edit]

The primary objectives of the Open Outcry Traders History Project are to capture the personal stories, experiences and histories of traders from all over the world who participated in open outcry markets. By preserving this oral history, it ensures that the traditions and knowledge of this trading method are not lost to future generations.

The project seeks to educate individuals, especially those new to the financial industry, about the history and significance of open outcry trading. It serves as a valuable resource for students, academics, and anyone interested in understanding the evolution of financial markets.

Initiatives[edit]

The Open Outcry Traders History Project undertakes several key initiatives to achieve its objectives:

The project conducts in-depth interviews with former open outcry traders, capturing their personal experiences, insights, and anecdotes. These interviews are recorded and made available for public access. These interviews are presented as both of videos and podcasts.[5][6][7]

A dedicated website serves as a central hub for accessing the project's materials, including interviews, videos, articles, and educational content.[8]

Future Directions[edit]

The Open Outcry Traders History Project continues to expand its collection of interviews, documents, and other materials related to open outcry trading. The videos and content may be used in futures documentaries produced by John Lothian News.


References[edit]