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Communications and Marketing

In the pits

Students in Alan Sherbin’s Finance 385 Options and Futures classes toured the Chicago Board Options Exchange and experienced this evolving industry firsthand.

“The CBOE is a pioneer in the industry and actually has ‘hybrid pits’  now where traders trade via the open outcry system—the old method—and electronically—the new method, at the same time,” said Sherbin, a lecturer in the Department of Finance and former trader.

Russell Rhoads, an instructor from the CBOE’s Options Institute, spoke to the Lake Forest group about the professional side of the industry, and students even viewed the bell that signals the opening and closing of trading for the day.

Sherbin, who traded at the CBOE for years, has taken other Lake Forest classes to the CBOE and feels providing students with access to Chicago’s own trading floor is key to their learning. “The history the students see gives them a great perspective of the industry as a whole,” he said.