SF Compute interviews exchange legend Rich Jaycobs on how to build a compute futures market
andriy_mulyar · x · 2026-09-20
SF Compute published a deep interview with Rich Jaycobs, former president of Cantor Futures Exchange, creator of 7 exchanges and 6 clearing houses, and behind 1/5 of all DCMs approved since 2000.
In late 2023 SFC bet that compute would commoditize and futures on it would become possible, then spent six months exploring regulatory structures, sounding out the CFTC on treating compute as a commodity, and gauging trader interest — finding most commodity experts 'lost in the sauce' until meeting Jaycobs.
Jaycobs' résumé includes movie box-office futures (one of only two commodity contracts ever banned by Congress, the other being onions), CEO of ELX Futures, and head of the CBOT clearing corporation. The conversation covers what it actually takes to build a compute market.
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