He was a philosophy major in college and recruited to the exchange by a former professor who worked in the industry. He was hired by by Ralph Peters in a research role.
He bought his first membership with the help of Leslie Rosenthal and a bank loan.
After taking a break from trading, and living in Paris, France, Morowitz came back and formed USA Trading to serve the needs of independent futures and options traders. USA Trading has cleared through several different clearing firms and today is a division of INTL FC Stone.
Morowitz was a witness at a CFTC hearing for Joel J. Fetchenhier, a CBOT member caught up in the FBI sting of the markets in 1990 when he was applying to be re-instated as a member of the exchange.
JLN News Feed
We visit more than 100 websites daily for financial news (Would YOU do that?). Read the John Lothian Newsletter.