Trading jacket

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A trading jacket is a garment worn by an individual who executes trades by open outcry in and around the trading pits of various financial exchanges. Trading jackets are frequently brightly coloured and distinctive to assist in the identification of specific traders and/or the exchange members for whom they work.

This colourful characteristic of the financial markets is dying out as open outcry exchanges adopt electronic trading platforms.

Nick Leeson's Trading Jacket[edit]

On 5 April 2007, the Guardian newspaper reported that KPMG, the Liquidators of Barings PLC had sold a trading jacket thought to have been worn by Nick Leeson while trading on SIMEX in Singapore. The jacket was offered for sale on eBay but it failed to reach its reserve price despite a highest bid of £16,100. It was subsequently sold for £21,000.[1] In October 2007 a similar jacket used by Leeson's team but not thought to have been worn by Leeson himself sold at auction for £4,000[2]

References[edit]

  1. ^ Graeme Wearden (2007-04-05). "Nick Leeson's jacket raises £21,000 | Business". theguardian.com. Retrieved 2013-08-18. 
  2. ^ [1][dead link]