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Futures Market Origins
3 Oct 2017
1970 emergence of major currency futures on the CME
1890's Chicago Mercantile Exchange (CME) was formed in the U.S
1848 birth of the Chicago Board of Trade (CBOT)
1851 earliest “forward” contract is recorded for 3000 bushels of corn
1877 speculators drawn into the markets due to futures trading becoming more formalised
1830's US started to trade similar contracts
1600 - 1697 Futures Markets founded in Japan during 17th century. The first known market was the Osaka Futures Market.
5 - 15 AD in medieval times where trade fairs were set up buyers and sellers could exchange goods. Market fairs followed rules and regulations such as specific times and places to trade.
6 BC earliest futures contract documented by Aristotle in the story of Thales, ancient Greek philosopher who believed the upcoming olive harvest would be particularly large
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