Ben Wolkowitz was one of the most accomplished economists ever to enter the futures industry. After teaching for several years in the economics department at Tulane University, he joined the staff of the Board of Governors of the Federal Reserve System in 1973. Wolkowitz ran the Financial Studies section, which was responsible for analyzing and briefing the board members on the impact of monetary and regulatory policy in the financial sector. He also chaired an interagency committee that wrote the regulations governing commercial bank involvement in the financial futures markets. His work at the Fed came to the attention of the New York Futures Exchange, which hired him in 1980 as the staff economist specializing in contract design. In 1982, he was hired by Citigroup to head the marketing operation for its financial futures brokerage business. In 1985, he joined Morgan Stanley and held several senior positions in its fixed income division, including head of the division’s worldwide futures and options operations. Before retiring from Morgan Stanley at the end of 2000, he was responsible for all e-commerce investments and initiatives in fixed income.