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Information technology (IT), as defined by the Information Technology Association of America (ITAA), is "the study, design, development, implementation, support or management of computer-based information systems, particularly software applications and computer hardware."[1] IT deals with the use of electronic computers and computer software to convert, store, protect, process, transmit, and securely retrieve information.

Today, the term information has ballooned to encompass many aspects of computing and technology, and the term has become very recognizable. IT professionals perform a variety of duties that range from installing applications to designing complex computer networks and information databases. A few of the duties that IT professionals perform may include data management, networking, engineering computer hardware, database and software design, as well as the management and administration of entire systems.

When computer and communications technologies are combined, the result is information technology, or "infotech". Information technology is a general term that describes any technology that helps to produce, manipulate, store, communicate, and/or disseminate information. Presumably, when speaking of Information Technology (IT) as a whole, it is noted that the use of computers and information are associated.

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History has noted many individuals for whom innovation and freedom of thought were paramount. The great physicist/astronomer Galileo once said, “All truths are easy to understand once they are discovered; the point is to discover them.”

Move forward from the times of Galileo to today’s world of financial futures and CME Chairman Emeritus Leo Melamed, who is known not in the traditional tomes where Galileo takes up page after page, but rather in the world of finance where he is recognized as the “father of financial futures.” As a leading light in helping to create innovative, globally significant financial concepts-turned-real that many said could never make it off the back of a napkin, Melamed shines. In 1986, the late Nobel economist, Merton Miller, called the launch of financial futures “the most significant financial innovation of the last 20 years.”

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