Yesterday, I had a great day! My local traders meetup group was having a little meeting at my house and we had a fantastic guest speaker. Richard Jaycobs, president of Cantor Exchange and one of the veterans of the markets spent all day with me and stayed over to talk with traders from all over the Knoxville Tennessee area. Here is how it all went down…
First of all, Richard has an extensive history with the markets. He worked along side Paul Tudor Jones, one of the wall street legends. He founded the first internet based futures exchanges. He worked for the New York Cotton exchange and was a managing director at Finex, among other things. He is currently the president of Cantor Exchange, a wholly owned subsidiary of the financial services firm, Cantor Fitzgerald.
One of the things I was most impressed with was the generosity of Cantor Exchange. They are out to work with all kinds of trading related businesses. When a trading exchange sends the president to your house to ask YOU how they can serve you, then this is an amazing thing. So why did he come to my house?
I had recently met Richard and Rod Drown (managing director at Cantor Exchange) at a traders conference. I approached Rod and the very first words that came out of my mouth were, ” If you can do what you say you can do, then I can bring 1,000 traders your way.” Now at the time, I had no clue how fast the Cantor Exchange brand would spread through word of mouth alone but I was bound and determined to find out more.
So I started messing with trades on the exchange and researching and found out that these guys are sitting on a goldmine of awesomeness for the retail trader. Some of the ways you can trade on the exchange just blew me away! I was hooked, as are many other traders so I sat down and wrote out a 40+ page document on my thoughts about the exchange and how I saw it from an outsider. Yep, forty flipping pages! Click and away it went to the execs at CX. (By the way CX stands for Cantor Exchange).
So long story short, I had a series of talks with Rod and he asked me if it was ok if Richard Jaycobs flew down to see me for the day. I politely said, ” Of course it is ok. I would be happy to talk with him.” Inside, I was like a kid in a candy store because I actually caught the attention of someone that wanted to hear my ideas.
So the day came. (Actually that day was yesterday July 13, 2015). Richard arrived promptly on time and we sat at my kitchen table and talked back and forth for 5 straight hours. We went through my ideas list one by one. If I thought something at the exchange was bunk, I let him know. If he thought one of my ideas was garbage, he let me know. We disagreed on a few things and agreed on a whole lot of things.
When we were tired from sitting, we would walk into my trading office and look at charts. I had told him about designing an indicator for trading on the exchange and he wanted to see it. We took a couple of short breaks and then went right back at it. Idea after idea. Line by line. Taking notes and crossing things off. I even got to interview Richard for a YouTube special coming up soon.
One of the most amazing things is the fact that Cantor Exchange wants to work with traders. They are not stuck up and have their nose in the clouds like several other exchanges. I remember calling and emailing a competitor exchange about an idea I had that would have been great and never once received a reply of any sort. Point Blank, Cantor Exchange is willing to talk with the little man.
So anyway, getting back to my story… after hours and hours of talking, the doorbell rang. Lo and behold, it was a member of one of my facebook groups. This guy, Steve Cole AKA Ole’ Dude as decribed by his high school students, is just about as country as they come. His accent is about as thick as molassas on a winter night. Now Steve was interested in the exchange and Richard talked right along with him and took his ideas as well… By the way, I just found out that Steve is now a Cantor Exchange trader, as of today. I assume he liked what he heard last night.
The doorbell rang again and here they came one after another, trader after trader filled my house with smiles and laughs. Not one of them had on a suit and tie… This is Tennessee by the way.
Then the vittles were on the table and everybody had plate. Boy, was it good. The smell of the food filled the house until after I lit the burners to keep the food warm and the house started to smell like a gas factory for a few minutes. We had pork BBQ, Rotisserie chicken, Mashed taters, Brown beans, Corn salad, Green bean casarole, Cheesecake bites, fudge, Cornbread muffins, and rolls. This was a feast for an old southern boy such as myself.As all the traders were eating and sitting wherever they could find a spot, the speaking part came and I stood up and tried to talk but everyone was so engaged in their conversations that no one even heard what I was saying Haha! So I gave them a few more minutes to chow down and then I, along with Richard attempted to explain the basics of the exchange and answer questions, mostly coming from Troy.
Now Troy is a friend of mine that works for Ninjacators so obviously he overtook the entire line of questioning almost and started firing off. One right after another the questions came. I answered a few but Richard answered most of them. Now Troy was creating some pretty powerful questions that would have made me feel a bit humbled but Richard just fired back the answer as easy as you could think and answered each and every question that was asked.
Look at the picture to the left. Richard is showing everyone how to play an air guitar. Just kidding, he is actually answering questions.
All in all, here is the deal. The Cantor Exchange has plans so great that I am so excited to be a part of it all. They want to create a trading experience that is the absolute best possible. They want to allow everyone access to the exchange in ways that are so simple that anyone would understand. They want to create products that traders want. Best of all, they want to hear ideas from you. If you have an idea that would make the exchange a better place to trade, let them know.
For more information about Cantor Exchange, or if you would like to get updates and talk with others about the exchange, please visit facebook.com/groups/cantorexchange or if you would like to sign up for a trading account, visit forestparkbx.com . Forest Park BX is a referring partner to the exchange, can get you set up with an account and answer questions along the way.
So what’s all the fuss about? What makes Cantor Exchange so awesome?? You just stay tuned, join the facebook group and watch this thing unfold. You will be blown away soon! Below is a small sample of things to come…
1. Write your own binary options contracts at ANY strike you want
2. No minimum deposit
3. All contracts are only $1 allowing smaller traders to participate in the market
Now many of the most awesome things, I can not mention at this time but you just wait!
(c) 2015 Ryan Herron of Joaquintrading.com