Fascinating Documentary about the changing face of the Chicago futures exchanges

[brasil2000]

“Floored,” a documentary about the changing face of the Chicago futures exchanges. Open-outcry trading — the practice of calling out buy and sell orders in soybeans and pork bellies from the floor (the pit) — has declined, like print media, a victim of computer culture and the urgent hunger for instant new information. As electronic trading spreads, and traders work in front of lifeless, antiseptic monitors, a generation of outcry traders finds itself increasingly obsolete. (By around 2008, only hog and cattle futures were trading primarily the old-fashioned way.)


http://flooredthemovie.com/community/?page_id=5


Film Floored Episode 1-8 about 80 minutes long (not the full-length version)
http://www.babelgum.com/browser.php#play/SEARCH,channelID:180638,order:FEATURED/0,5003507




FLOORED official trailer:
http://www.youtube.com/watch?v=lW37sEkXMMc&hd=1

official trailer 2:
http://www.youtube.com/watch?v=_UXomMnQKT4&feature=related

3 minute short film“The Transition”
http://www.youtube.com/watch?v=tXNUZDLSC3c&feature=related

 

[Wile E Trader]

Thanks for sharing it.

 

[Aston1st]

Seen the film.

Initially it seemed promising. However, I think that the directors problem is not knowing exactly who the audience would be. On the one hand if it's too technical then that narrows the audience down considerably, on the other if too broad then professionals and amatuers alike will be bored.

The end result was semi technical semi broad.

As a trader one will not come away learning much from the film. In terms of strategies and tactic's or even figures of incomes earned, only vague statements.

The most interesting person in the film is given a very short space of air time, despite the fact that the director had not only been reccommended by the majority of traders to interview this guy, but also the director spent four days with the Man, who come from Big Swinging Dick to drinkng as bad as a Sailor on 24 hours shore leave. The director thought it was better to keep his distance from a "Professional" point of view ( i.e not to go native and go on the **** with the guy to get into his skin) that was a mistake as it took the director 8 years to complete the film and this Guy Rega was a phenomenal trader. The Director could have made a film about him alone.

However on the Good bits of the film, the Director covers the introduction of Computers and their impact on the Trading floor. Although Algos seem to be having an impact with locals on or off the floor. This area of exploring Man v Machine was the Documentaries strength.

Some humourous interviews but if one compares it with Jon Else's Documentary "Open Cry" Jon Else's version had more substance.

Just as Trading is a game of Odds and Probabilty among other things so is making a films about it. By the end of 8 years of research and work as the film was almost compeleted the 2008 Finanical Meltdown came to pass. So unfortunately the Documentary doe'snt get to get a hard overview of this.

Nevertheless the films is well made in a sort of Michael Moore sort of a way, and will be a good link between the transistion of the A type personalities of the Open Cry Pit's and the B types of the Computing world of Trading.

A BUY Reccommendation:

 

[BSD]

My favourite guy there was the drunk trader lol !



PS Aston, hadn't previously heard about Jon Else's film, will check that out.

 

[bevok]

Very interesting. Why have the hogs and cattle futures remained dominated by the pit?

 

[Aston1st]

Yes strange but true, the Top Trader all the others were heralding ended up being an
alcoholic. The Director has some other very good interviews. But having people walking about pretending to smoke Cigars in the CME, is abit kitsch.

http://www.amazon.com/Open-Outcry-VHS-Jon-Else/dp/1559746521

Floored is more up to date and relevant as "Open Cry" was filmed about 10 years ago.