By Ilana Greene and Kathryn Konior
Join me this Saturday to speak with David Greenberg, NYMEX Board of Directors and Executive Committee. (http://www.blogtalkradio.com/networlding)
We will explore Enron’s effects on Nymex while gaining access into Nymex’s decision to provide a safe haven for the energy industry in the wake of the Enron collapse.
Go behind the scenes of the four chairmen under whom David serviced—including:
Vinny Viola, the Brooklyn-born, self-made Army Ranger and captain who saved the exchange during 9/11
Chairman Richie Schaeffer—David's former mentor and greatest supporter who led the charge for the IPO—a man who expected and verified that things were done his way—who untimely kicked him off the board, yet saved David a fortune for doing so.
Learn about Team Black Stone’s tactics versus those employed by Team General Atlantic in their mutual quest to bring Nymex public.
David will unveil just how poorly the CFTC regulated the exchange and how their lack of experience and shortage of knowledge led to blow ups such as the collapse of MF Global and why the world’s regulators do not have a long-term goal of a world market.
Investigate key facts related to the world regulation of volume investors like Refco, MF Global, FHG, and Knight and how it served as the minor shockwave that could lead to a worldwide melt down—one that due to electronic trading, will take nanoseconds and cost trillions of dollars.
Access a full examination of everything that happened to the “Non-Clearing” clearing houses that were under the MF Global umbrella and how these events were handled by the CME and the CFTC.
Gain full disclosure regarding the new markets and how they were able to get miles ahead of the people who invented them, in addition to gaining access to full profiles of those who trade them and control them.
How Nymex’s access overnight trading system was the best system in electronic trading
How and why it failed to beat Globex
How it ultimately cost Nymex tens of millions of dollars and forced Nymex to merge with the CME
You will receive an insider’s view on the reasons behind the United States’ loss of the WTI market and how they outplayed in the ultimate power battle over who controls the benchmark prices—and how it has cost anyone who has ever driven a car, has had heating oil delivered to his or her home, or who has ever flown in a plane.
Discover what it was like to be a Nymex pit trader—a rock star of Wall Street.
Unearth secrets!—not about the stock market guys who keep their ties tied tight at the Knicks games at 11 p.m., but about the street guys from Staten Island, the Bronx, and Brooklyn—a scene that brings to surface the image of a guy who never finished high school kicking the shit out of a Harvard graduate—physically, emotionally, and financially.
Get to know the guy who in the heat of the moment might contemplate whether or not throwing a punch would be worth the $5000 fine and three-day suspension.
Learn about the issues related to regulators’ understanding of the “new markets” and the challenges they face.
David will tell you the real Nymex story and discover how it dramatically changed the world.
Why are you paying so much at the pump? These steep prices defy the laws of supply and demand. We will tell you the inside scoop!
Follow David on Twitter: @greenbergcap
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