Jacob Morowitz

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Jacob Morowitz
Occupation Founder & CEO
Employer USA Trading
Location Chicago
Website https://www.usatradingdivision.com/

Jacob Morowitz is a longtime Chicago futures exchange member and brokerage executive. He is the CEO of USA Trading, founded to serve independent futures and options traders.[1][2][3]

He traded at the Chicago Board of Trade and has been involved in exchange governance.[4][5]


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.[6]

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.[7]



  1. CBOT will shut door on MidAm. Chicago Tribune.
  2. In Chicago's Trading Pits, This May Be The Final Generation. Chicago Tribune.
  3. CBOE-CBOT settlement bogs down, along with IPO hopes. Crain's Chicago Business.
  4. TRADING TO THE TOP. Chicago Tribune.
  5. Five Petition Candidates Added To CBOT Election. Mondovisione.
  6. Who We Are. USA Trading.
  7. n the Matter of JOEL J. FETCHENHIER. Commodity Futures Trading Commission.