# Trading jacket

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A **trading jacket** is a [blazer](/source/Blazer) garment worn by a broker who executes trades by [open outcry](/source/Open_outcry) in and around the trading pits of various financial [exchanges](/source/Exchange_(organized_market)). Throughout the twentieth century, trading jackets were simply white. Following [counterculture of the 1960s](/source/Counterculture_of_the_1960s), they became brightly colored and distinctive to assist in the identification of specific traders or the exchange members for whom they work. In the United States, American flags became a common accoutrement following the [September 11 attacks](/source/September_11_attacks).[1] Today, trading jackets are mostly [anachronistic](/source/Anachronism) as open outcry exchanges have been displaced by [electronic trading platforms](/source/Electronic_trading_platform). Chicago-based PECO Inc has been the leading supplier of trading jackets since 1919.[1]

## Nick Leeson's trading jacket

On 5 April 2007, the Guardian newspaper reported that KPMG, the Liquidators of Barings PLC, had sold a trading jacket thought to have been worn by [Nick Leeson](/source/Nick_Leeson) while trading on [SIMEX](/source/SIMEX) in Singapore and engaging in illegal activities which led to the collapse of [Barings Bank](/source/Barings_Bank) and a four-year prison term. The jacket was offered for sale on eBay but it failed to reach its reserve price despite a highest bid of £16,100. It was subsequently sold for £21,000.[2] In October 2007 a similar jacket used by Leeson's team but not thought to have been worn by Leeson himself sold at auction for £4,000.[3]

## References

1. Hirtzer, Michael (5 February 2015). ["RPT-Flashy jackets of Chicago traders may soon exist only on the silver screen"](https://www.reuters.com/article/cme-group-closure-jackets/rpt-flashy-jackets-of-chicago-traders-may-soon-exist-only-on-the-silver-screen-idUSL1N0VF3AB20150206). *Reuters*. Retrieved 19 August 2025.

1. Graeme Wearden (5 April 2007). ["Nick Leeson's jacket raises £21,000 | Business"](https://www.theguardian.com/business/2007/apr/05/money1). theguardian.com. Retrieved 18 August 2013.

1. ["Howard makes his mark at Norwood's Distressed Investing Dinner"](https://web.archive.org/web/20110721185359/http://www.norwood.org.uk/contact-us/pr-media/newsarchive/2007/Fundraising+News/distressed_investing_dinner_2007.htm). 16 October 2007. Archived from [the original](http://www.norwood.org.uk/contact-us/pr-media/newsarchive/2007/Fundraising+News/distressed_investing_dinner_2007.htm) on 21 July 2011. Retrieved 19 August 2025.

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