Chicago earns a place as an international hub in the United States. Apart from the stock exchange, financial institutions in Chicago also deal with products such as futures and bond exchange, which were not provided by Wall Street in New York.
In terms of the financial market in the United States, New York is the center of traditional business, securities and investment of banks, while Chicago places emphasis on financial derivatives, insurance and risk management. Chicago Board of Trade (CBOT), founded in 1848, is one of the oldest futures and options exchange in the world.
Chicago was the largest steel and food processing industrial base in the United States. Agriculture machinery, transportation machinery, chemistry, petrochemistry, electrical machinery, aircraft engines and printing in Chicago are getting ahead in the entire country and also wood processing, pulp and paper industry, electronics industry, textile, clothing and flour sectors. 33 of the top 500 companies in the United States established their headquarters in Chicago such as Motorola, Boeing, McDonald’s and Amoco. Industry is mainly distributed around Chicago canal therein Lupus is an important area of light industry with a high density of factories. There are lots of steel enterprises in Calumet industrial zone, and the largest steel group in Satellite city of Gary, commerce and financial industry are prosperous here. In recent years, numerous high-tech companies have gradually replaced the declining industry in Chicago, making it the heart of “Illinois Silicon Prairie.”