Talking About a Revolution

The mark of any great idea is that moment when you look at it, slap your forehead and wonder why you never thought of it. Such is the case with single-stock futures, or SSFs.

A product has to sell itself. Sponsoring giant cocktail parties at industry gatherings may generate goodwill for an evening, but will they trade your contracts tomorrow? Think of your life's epiphanies, such as learning how to ride a bike or drive a car. Someone helped you get started, but no further marketing was necessary.

SSFs are going to fit into this category. They're new in the U.S. -- look for a March 2002 launch -- and they're a little bit different. Although they've been trading in other countries for some time, the Commodity Futures Modernization Act of 2000 lifted the U.S. ban on SSFs and opened the door to them in American markets. ...