Trading jackets, also known as trading platform jackets, are brightly colored jackets worn by traders on financial trading floors worldwide. They are personalized with company emblems and logos and are becoming outdated due to the rise of e-commerce. Some traders collect them as treasured items.
A colorful jacket, the trading jacket is a jacket worn by those who participate on the floor of a financial trading pit. Considered work wear, business jackets are intentionally done in bright hues so that each trader and the financial company they work for are easily recognizable. Also known as trading platform jackets, these garments are worn in and around all financial exchanges around the world.
As traders yell buy and sell orders, trading jackets yell as well. Their designs are usually colorful and bright, making them easily distinguishable, even from a distance. Some are designed in traditional colors like black and green, while others have flame or jungle prints. Many traders feel that a trading jacket is like a second skin.
Originally, trading jackets were made of mesh, which kept the trader cool and comfortable as he ran across the market floor. It also allowed freedom of movement. Poplin collars and pockets were often added to these jackets.
The business jacket is often personalized. It may have the emblem of the company the merchant works for, as well as a special logo that signifies the merchant. The merchant’s insignia may also be incorporated into the jacket design, if the jacket is made to measure. PECO is one of the largest and most recognized manufacturers of commercial jackets.
The most famous business jacket of all was one worn by Nick Leeson. Leeson was infamous for causing the fall of Barings Bank due to speculative trading. His jacket was offered up for auction by the bankruptcy adjusters in charge of dissolving KPMG. However, its reserve price was never reached, and it was instead sold to Paul Taylor, a London financial manager.
The business jacket is becoming increasingly outdated. The trading pit is largely being abandoned in favor of e-commerce so jackets may no longer be needed. Business jackets are often collected and kept as treasured items for those in the financial industry. There is such a small market for the business jacket that many manufacturers have chosen to make clothing for those in the culinary industry.
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