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The HC Commodities Podcast
00:00
The Rise and Fall of the Seabot
In the early 1990s, floor traders or members of the CBOT and CME between them were generating a billion dollars of net income. That's a huge chunk of the income generation in the Chicago metro area. So economically, the income produced by these two exchanges was very important to the pit traders. And so it took a good 20 years for that transition to really fully take place.
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