The Chicago Mercantile Exchange's story is one of resilience and drama, shaped by significant historical events and determined individuals. As the world's leading financial futures and options exchange, it represents a remarkable American business success story. Established in 1919, by 1991, the Merc supported trading with an underlying value of around $50 trillion, far surpassing the value of all equities traded on the New York Stock Exchange. Its origins trace back to 1873, following the Great Chicago Fire, which transformed the city into a major commercial hub. However, the journey was fraught with challenges; by the 1950s, the Merc was struggling as an agricultural commodities exchange on the verge of collapse. The turning point came in 1972 with the creation of the International Monetary Market, which has been crucial for businesses and individuals navigating global financial markets. The Merc has continually evolved, becoming the first American exchange to open a European office in 1980 and establishing trading links with the Singapore International Monetary Exchange in 1984, followed by a Tokyo office in 1987. It now leads efforts for twenty-four-hour international trading through its GLOBEX partnership. The late 1980s saw tensions between conservative Wall Street interests and the Merc's dynamic trading environment, culminating in a Justice Department investigation and FBI infiltration. However, by 1990, the exchange w
