If you looked really hard, you would see me standing in this photo of the S&P500 futures pit. Back in that day, we had the scourge of “program trading”, where the black boxes would arb the difference between cash and futures for a profit. Large traders and commodity pools loved to run the market and go for stops. Nothing has really changed except the “pit” is now the size of the electronic world, and things happen much, much faster.
-vegas
If you looked really hard, you would see me standing in this photo of the S&P500 futures pit. Back in that day, we had the scourge of “program trading”, where the black boxes would arb the difference between cash and futures for a profit. Large traders and commodity pools loved to run the market and go for stops. Nothing has really changed except the “pit” is now the size of the electronic world, and things happen much, much faster.
-vegas
Not 30 years ago, maybe more like 25, I would say the picture is from late 80′s