Floor Trader Badge w/ House Number - Chicago Mercantile Exchange

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Floor Trader Badge w/ House Number - Chicago Mercantile Exchange - Rare

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Our Price: $125.00

Sale Price: $100.00

Vintage Collection

Product Code: VT128-46

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Description

Floor Trader Badges at the Chicago Mercantile Exchange have identifying information on them so other traders can identify who they are trading with. Badges for individuals each have an acronym or nickname on them chosen by the trader (no two could be the same). Different exchanges had different requirements and limitations. For instance the KCBOT was limited to 1-2 letters, CBOT 3 letters, and the CME was usually 2-4 letters. However some of the longer tenured traders were grandfathered in and were allowed 5-6 letters.

There were also badges that identified the trader's firm with what is called a "house number". House numbers identify the CME clearing firm. Each firm had their own unique number. For instance Bear Stearns was 045, J.P. Morgan Futures 660, and Paine Webber was 710. This badge is for house number 500, which was the Iowa Grain Company.

The Iowa Grain Company was founded in 1968 as a clearing and execution house for commodities. They were the first firm to route trades into the CME agriculture pits electronically and developed the OAK Trading Platform for internet orders.

Chicago Mercantile Exchange Floor Trader Badge - House 500; Iowa Grain Company

CME Trader Jacket Button
Age: 1980s
2.5 x 2.25"
Condition: VG; as pictured