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Author Archives: John Lothian

About Author

Lothian is executive chairman and CEO of John J. Lothian & Co. and editor of the John Lothian Newsletter. He publishes,,, and three industry newsletters.

Who is Murray Borowitz? Standard

By John J. Lothian Murray Borowitz independently thought up the idea and helped create the veryfirst financial futures contracts at the International Commerce Exchangeback in 1970 with the introduction of foreign exchange futures contracts.That was two years before foreign currency futures were launched andsuccessfully developed at the Chicago Mercantile Exchange. Murray was nevergiven a title of honor as the “founder” of financial futures, like LeoMelamed, or the “father” of financial futures like Dr. Richard Sandor.However, given Murray’s roots in the trucking business and his role inindependently coming up with the idea of financial futures contracts onforeign exchange (and on the…