John F. Eckstein III

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John F. Eckstein III
Location New York

John F. Eckstein III was among the first traders of Treasury bill futures contracts following their first appearance in 1976.[1] He was also one of the first traders that worked with developing computerized trading based on chart patterns and was an innovator of cash-futures arbitrage trading in the United States bond market.

Eckstein "favored short-maturity Treasury securities, structuring trades based on yield curve distortions and deductions about Federal Reserve decisions, which until 1994 were not announced."

He passed away on July 24, 2012 at a nursing home in New Rochelle, New York, after following years of struggling to recover from a severe heart attack suffered in 2005. He was 74 years old.[2]

Background

Eckstein began his career as a Treasury trader at First National City Bank and later worked at Discount Corp. of New York, an independent dealer of U.S. government securities. According to his son, he founded J.F. Eckstein & Co in 1972. He ended his career working at firms such as A.G. Becker & Co., Deutsche Bank AG and Yamaichi Securities Co., until 1997.

He had a role in Roger Lowenstein's, "When Genius Failed," a book published in 2000 that illustrated the collapse of the Long-Term Capital Management hedge fund, which lost $4 billion during the failing world markets in 1998.

Education

Eckstein graduated from Lehigh University, in Bethlehem, Pennsylvania, in 1959.

References

  1. John Eckstein, Pioneer Of Treasury Futures Trading, Dies At 74. Bloomberg.
  2. Treasury Futures Trading Pioneer John F. Eckstein III Dead At 74. Property Mentor Group.