Way back in August of 1986, I was clerking in the Eurodollar Options pit on the CME trading floor. It was sort of a slow August day. A couple of traders decided to leave the floor that day and go to Navy Pier.
The reason was there was a virtual reality exhibit there.
I never made it to the exhibit. But, when they came back from it all they could do was talk about the possibilities of virtual reality. Eventually, we started talking about virtual reality and trading, “the virtual pit”. Of course, the discussion used the constructs of the day. Trading badges, seats, etc. But, talking about the new technology opened up some possibilities people never thought of.
Electronic trading was on the mind of traders back then. Globex would be launched in 1987.
Virtual reality has made tremendous leaps since 1986. At SXSW this year, VR, Livestream, and AI were the hot topics. Most ground breaking technology starts out as a toy, a game. I wonder where VR will go when it comes to B2B applications.
Who knows, someday instead of sitting anonymously behind a screen, we will all be in a virtual pit. Using VR to get new contracts started might be a better way than just putting them on a screen and trying to get people to trade them.