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For
Immediate Release
August 26, 2009
Contact:
Patricia Reiffel
312-930-3310
preiffel@melamedassoc.com
For
Crying Out Loud
From
Open Outcry to the Electronic Screen
by
Leo Melamed
John
Wiley & Sons, Inc. has announced the publication of Leo
Melamed’s latest book, For
Crying Out Loud.
For
Crying Out Loud is
the informal history of the Chicago Mercantile Exchange
between 1996 and 2006, during which time the Exchange was
successfully transformed from a market operating within
an age-old open-outcry trading framework into a technologically
cutting-edge electronic trading system and from a tight-knit,
not-for-profit entity owned and run by its members into
a widely traded public corporation. While by no means a
complete history of the CME during this period, it highlights
the critical events, significant personalities, and cliff-hanging
twists and turns that were instrumental or involved in
this very difficult but enormously successful metamorphosis. The
book also includes a number of topical essays written by
the author during this period of time as well as some exhibits
pertaining to the history depicted.
Leo
Melamed’s purpose in writing these memoirs is twofold. First,
it provides the reader with an inside look at a major American
enterprise throughout a fascinating, make-or-break historical
time period during which Globex, the CME’s phenomenal electronic
trading system overcame its adversaries, matured, and proved
absolutely critical to the CME’s success. Second, it underscores
for every business endeavor the preeminent necessity of innovation
coupled with a determination to overcome the inevitable forces
of the status quo.
The
book has been endorsed by many financial luminaries including
Paul Volcker, Myron Scholes, Martin Mayer, Robert Shiller,
Michael Moskow and Russell Wasendorf, Sr. It carries a special
endorsement from CME Group chairman Terry Duffy, as well
as a Foreword by
Craig Donohue, CEO of CME Group.
Bill
Kurtis of Kurtis Productions, Ltd. offered the following comment:
“Leo
Melamed has written an adventure story worthy of Hemingway.
It’s also a spy thriller and historic chronicle. It is the
defining account of modern change that comes to an industry
as old as Bedouins trading sheep on a dusty rock. Seen from
the ultimate insider, we glimpse a world unseen and unknown
to most of us. It is a very important work that could become
a business school bible.”
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