Perspectives - Craig Donohue

Craig Donohue, Chief executive, and Leo Melamed, chairman emeritus, Chicago Mercantile Exchange

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The global trade winds of deregulation, globalisation and rapid advances in trading technology have swept through the derivatives markets, while trading in equities remains much the same as it has been for years. Market participants are increasingly moving away from traditional forms of investing - long-term passive buy-and-hold investment strategies - towards more active management strategies.

Global hedge fund assets have grown from $50 billion in 1988 to approximately $1 trillion today, and

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