DePaul University business professors and Chicago Mercantile Exchange (CME) traders will teach twenty finance professionals from international markets the boisterous shouting and hand-signaling language of Chicago pit traders during mock trading sessions on July 23 and 31 at the CME.

The open outcry trading exercises are part of an annual certificate program conducted for the last seven years by the finance department of DePaul's Kellstadt Graduate School of Business and the Chicago Mercantile Exchange. Finance professionals from emerging markets, primarily in Latin America and Asia, learn futures and options trading strategy, market structure, price determination, arbitrage strategies and risk management in the program.

Students enrolled in the program attend one or two, week-long sessions in July and August. The sessions combine classroom instruction and training in an electronic trading lab at DePaul with hands-on experience at the Merc, the world's leading futures financial exchange.

"This is the second year that we've offered Level II, the advanced futures and options program, and we're pleased to see students from Level I coming back to further their training," said program director Carl Luft, an associate professor of finance at DePaul. "It's a testament to the quality of the instruction in a program that is value added for their careers."

Luft noted that three of this year's students are from Hong Kong, which came under the control of the Chinese government on July 1. As trade with China opens up, there's a need for more training in futures and options, Luft said.

DePaul is offering Level I, an introduction to futures and options for junior finance professionals, from July 14 to July 25. Level II, which will take place from July 30 to August 7, attracts financial professionals with five or more years of experience who sharpen their analytical skills, develop proactive risk management strategies and formulate global risk profiles for their firms. Students in both sessions meet at the DePaul Center, 1 E. Jackson Blvd., or the nearby Merc, 30 S. Wacker Dr.

Faculty members involved in the program have a wealth of practical experience to share with their students. They include DePaul Finance Professor Fred Arditti, the creator of the Eurodollar contract who was recently appointed executive vice president of business development for the Merc.

More than 175 finance professionals from 25 countries have trained in the program during the last seven years. Many of the participants want to prepare for the launch or expansion of futures and options markets at home.

"Level I and Level II provided me with relevant knowledge that helps with the development of our own futures and options exchange," said Lina Munoz, an advisor to the superintendent of the Republic of Colombia and a 1996 graduate of the program. Munoz said the program "provided a great opportunity to contact people directly involved with the market not only from the United States but from countries around the world."

[Note to Editors: Reporters interested in covering a mock trading session or interviewing participants in the program should call William Burks at the CME at (312) 930-3446 or Robin Florzak at DePaul: (312) 362-8592.]

Further information about the CME and its products is available on the World Wide Web at http://www.cme.com