Pat's Bio
I began my career at the Chicago Board of Trade in 1990 as a brokers assistant in the corn futures pit. I would continue as an assistant, learning the customer side of trading, until I became a member of the Mid America Commodity Exchange in 1992. This was a small exchange within the Chicago Board of Trade that offered smaller sized CBOT products, which I felt was a good way to learn the basics of futures trading before entering the futures pits at the CBOT.
In 1993 I became a full member of the Chicago Board of Trade, focusing the majority of my time in the corn futures pit. I would trade for myself using the open outcry system, and throughout the years I was able to find a fairly successful system of trade that consisted of trading different months within the pit known as scalp spreading.
As the introduction of the electronic market became more of a presence in the futures products, I decided to shift my focus toward the fundamental and algorithmic side of trading. Making the transition from open outcry to electronic trading has taught me many things along the way. Interestingly, many of the approaches I used in the pits can still be applied in today’s trade, but these approaches must be modified in an algorithmic fashion. I am continuing to learn different approaches to various trades, having success in some areas, and still trying to find success in others.
Having been a member of the CBOT since 1993, I have been very fortunate to experience the people and presence that the “open outcry” venue provided. I have had great experiences serving on several industry committees, such as the Corn Futures Pit committee, Trading Task Force committee, and still currently on the CBOT Membership Committee. Even considering all the experiences I have gained as a member, today I think I enjoy best the task of transitioning what I do into best practices utilizing algorithmic trading software and methodologies and I am committed to helping to spread this knowledge to students and those newly entering the field.
When I am away from the markets, I enjoy spending time with my family, and occasionally getting in a few rounds of golf. Having children active in youth sports, I was able to donate my time as a coach in several different sports, a few of which I had no idea what I was doing, but still had fun. I also enjoy helping out the community and serving on a local charitable board that focuses on providing for families in need.
More information about Pat McBride