Teenagers on Commodities Exchange Floor?
Saturday, November 28th, 2009 at
8:49 pm
just the answer asked:
i have seen lot of teenagers or young adults working on commodities trading pits with different colors of jackets on tv. i know that different colors of jackets represent different positions. can anybody tell me how those kids can get jobs on the floor? and what they do? and what those colors of jackets represent?
thank you
information will be appreciated
i have seen lot of teenagers or young adults working on commodities trading pits with different colors of jackets on tv. i know that different colors of jackets represent different positions. can anybody tell me how those kids can get jobs on the floor? and what they do? and what those colors of jackets represent?
thank you
information will be appreciated
Filed under: Commodity Trading
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I can’t speak for all exchanges but the Chicago Mercantile Exchange allows 18 year olds to work on the floor as an employee of a member or member firm. You have to be 21 to be a member.
Someone 18 to 21 is likely to be an order clerk or a runner.
The jacket colors are essentially meaningless. Ususally they represent your employer or your employers clearing firm but not necessarily.
Finally, the trading floors are dying as electronic trading takes over. The vast majority of futures contracts are now traded electronically and soon the physical floor will cease to exsist. It’s not a place to be starting a career.
they are probably just options clerks or runners. they can do anything from helping facilitate orders b/w traders on teh floor and the seats, to getting a sandwich for the tradres. in the Merc, tht would most likely be from the Rivers to go located in the 1st floor lobby, which has killer burgers and french dips. i have seen orders for 30 burgers at a time picked up by runners for traders.