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On Sunday, May 16,
1999, the University of Illinois conferred an honorary degree on Leo
Melamed, chairman and CEO of Melamed & Associates, Inc.,
and chairman emeritus and senior policy advisor of Chicago Mercantile
exchange, is recognized as the founder of financial futures markets. he
was responsible for introducing foreign currency futures in 1972 and led
the Chicago Mercantile into becoming the first futures market for
financial instruments. During hid 25 years of leadership at the
exchange, Melamed was primary influence that elevated the futures
exchanges in Chicago into the agricultural and financial futures of the
world.
The futures industry has had unparalleled impact on the
economies of Chicago and the state of Illinois. the Chicago exchanges have
brought about $35 billion of margin deposits to Chicago banks. The futures
exchanges have created more than 150,000 jobs, directly and indirectly, in
the financial sector of Chicago, plus thousands more in such areas as
health care, retailing, and support services. The futures industry and
related activities have brought immeasurable economic returns and commerce
to Illinois.
Melamed is a trader, innovator, and author. he has
enjoyed the recognition of colleagues, and his ideas have won him praise
in academia. He has promoted the professional integrity of futures
industry, contributed much to civic life by participating in worthy
causes, and served on the Council of the united States Holocaust
Museum.
Melamed was born in Poland, from where he and his parents
escaped and emigrated to United States in 1941. Melamed graduated from
Roosevelt high school in Chicago, attended the University of Illinois at
Navy Pier, and has a law degree from John Marshall Law School in Chicago.
He is the editor of one book and the author of three, one an autobiography
entitled Escape to Futures. Melamed is Married and has three
children.
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