 During his career he was a member of several exchanges, such as the "New York Cotton Exchange", and several professional market associations, such as the New York Society of Security Analysts.Many modern trend following systems, such as the "Turtle Trading system", are based on his work.The Richard Davoud Donchian Foundation was established after his death in April 1993; its aim is to make improvements in Children's Health and to help its ultimate recipients become empowered to strengthen and build up their families and communities — passing onto others that which was given to them.