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Tuesday, July 01, 2014, 12:00 - 13:30

On the risks and benefits of financial and other futures in today's markets and his extraordinary life. {readmore}
Leo Melamed
Chairman Emeritus of the Chicago Mercantile Exchange
Language: The speech and Q & A will be in English

 Leo Melamed is recognized around the world as the founder of financial futures. In 1972, when he was chairman of the Chicago Mercantile Exchange, the world’s biggest futures market, he created the International Monetary Market, the first futures market for financial instruments.

 The launch of currency futures revolutionized markets and sprouted futures and other derivatives covering everything from mortgages to weather events. The notional value of over-the-counter derivatives alone was $710 trillion at the end of 2013, according to the Bank for International Settlements.Melamed also led the CME to introduce a range of financial instruments, including Treasury Bills in 1976, Eurodollars in 1981 and stock index futures in 1982. He also founded Globex, the world's first electronic trading system for futures in 1987.

 While being useful tools for hedging risk, futures and other derivatives have the capacity to blow up spectacularly, threatening banking systems and economies, as shown in the global financial crisis that rumbles on today, which started out when obscure instruments covering U.S. housing mortgages went sour.

 Melamed is also a Holocaust survivor and his odyssey from the city of Bialystok, Poland to Chicago is an extraordinary tale that combines sharp wits and Japanese generosity, spanning two years and three continents. Melamed and his parents managed to outwit the Nazis and were given a transit visit by the Japanese consul-general in Lithuania, Chiune Sugihara, who defied orders and rescued thousands of Jews from certain death in concentration camps. Sugihara is often referred to as Japan's Oskar Schindler.

 While Sugihara died in relative obscurity after being told to resign by Japan's foreign ministry following his return home after the war, Melamed has achieved widespread recognition and brought about massive change in financial markets. But he hasn't forgotten the help he received from Japan, and will make a pilgrimage to the part of western Japan where he landed after escaping the Nazis.

 Come and listen to Melamed speak about the risks and benefits of financial and other future futures in today's markets and his extraordinary life.

 Please reserve in advance, 3211-3161 or on the website(still & TV cameras inclusive). The charge for members/members' guest is 1,750/2,700 yen; non-members including guest-members eligible to attend may pay in cash. (Menu: foil wrapped baked flatfish.) Reservations canceled less than one hour in advance for working press members, and 24 hours for all others, will be charged in full. Reservations and cancellations are not complete without confirmation. For meal service, please enter the room by 12:25.

 *Working Pressは1時間、Associate, non-memberは24時間以内のキャンセルはフルチャージとなりますのでご注意ください。なおキャンセルは電話でのみ承ります。

Professional Activities Committe

            Jul 01 14 PL Leo Melamed050

 


 

 

 

 

 

 

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