What would the adolescent Tom Price think of the Tom Price of today?
He would probably be happy that somewhere along the journey there was a chance to be a farmer. Q: What products did you trade at the CME? A: Livestock futures and some Eurodollars. They had just started the Eurodollar contract Price is referring to the CME’s launch of Eurodollar futures in 1981. As I left the floor, then-chairman of the CME Leo Melamed asked if I had traded any Eurodollar futures and I said no. The second day, he asked again if I had traded Eurodollars. By the third day, I saw him standing at the door and I traded Eurodollars. I turned around and told him that yes I had. The Merc always promoted their products…in a very subtle way. Q: Why did you start the Price Group? A: Mainly to focus on a more narrow area of the more transactional hedging trades. That was basically it. Q: And you had an eye toward alternative investments? A: It was one of the iterations. As we’ve grown, as we saw the commissions structure come down, we made a decision. We made a decision that it
