abstract:Leo Melamed is the chairman emeritus of CME Group (formerly Chicago Mercantile Exchange) and a pioneer of financial futures. He is a current board member of CME Group and chairman of its Strategic Steering Committee.
LeoMelamed, a Jewish immigrant from Poland, took control in 1969 and introduced currency futures and the International Monetary Market to the exchange.
It was a year after the dollar had been detached from its gold backing and, as LeoMelamed, the Merc's then chairman, was quick to see, a floating dollar meant multiple uncertainties that businessmen would want to hedge.