Rectangular button with green background and image of pig and computer, blue and orange lettering; black cardboard backing and metal pin. Reads 25 July/E-Mini Lean Hog Futures/.../CHICAGO MERCANTILE EXCHANGE/July 25, 2000
This promotional button was circulated by Chicago Mercantile Exchange in 2000.
This button illustrates a hog, a symbol of early Chicago's economics, with a computer, a sign of technological change for Chicago's economic future.
The juxtaposition of symbols of hog and computer is apropos, considering the fact that this button is commemorating the selling of "lean hog futures" or contracts obligating traders to trade quantities of pork meat at a given point in the future on the new Globex2 electronic trading system. Lean hog futures were the "first traditional agricultural commodity to be traded exclusively" on the second generation of the Globex system, starting in July of 2000. The button helps to document the recent history of the Chicago Mercantile Exchange, one of the city's most important financial institutions. Founded in 1898 as the Chicago Butter and Egg Board, the Chicago Mercantile Exchange (CME) has revolutionized trading with innovative products and systems. In 1992, the CME adopted Globex, an electronic trading platform that allows traders to buy and sell contracts using computers. Buttons like this one were produced to advertise the technological advancements at the CME in the early 2000s.