Ep. 816: A Trading Primer with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Importance of Cash Settlement
The CFTC approved cash delivery in 1981 and I launched the first. The year old dollar contract was an index product for short-term interest rates that are held in the world. It became the biggest market we ever had but at the same time I had already negotiated with Standard and Poor's in 1980 for a license to trade their index to S&P 500.
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