What's missing from this explanation is how open outcry trading works. If the "sell 30 April at 142" instruction is barely heard correctly, how would other traders be sure of what they heard and react accordingly? It seems like a messy trading environment where mistakes could easily be made. What do they do to prevent these mistakes and to prevent traders from reneging on the trades? Do they have a ticker tape? Do they have employees who would record all transactions on the ticker tape? How do they go from verbal instructions to a verified record?

Amazing movie though. I just wish I had more context to understand the scene fully.

I’ve worked in trading for some time now (on the tech nerd side) and can still remember my jaw dropping when I learned that FCOJ is actually traded and wasn’t made up for the movie.

That's funny, that in 2010 the Commodity Futures Trading Commission specifically banned the insider trade that bankrupted the Duke Brothers at the end of Trading Places!

Here's a direct link to the testimony mentioned in the Wall Street Journal:

https://www.cftc.gov/PressRoom/SpeechesTestimony/opagensler-...

https://youtu.be/9wSQ9Zk_9gQ?si=LIymSh4sGl2jehYo great video on orange juice concentrate futures

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