"I will always remember September 11th as a day when so many rose up to face such enormous challenges," said Rudy Giuliani. "That's certainly how I remember the New York Board of Trade during that time. The administration worked hard with NYBOT during those first difficult days, and seeing this historic New York institution resume trading within a week of the attacks was another affirmation of the American resilience and courage. And now, almost two years later, NYBOT has moved back downtown, better than ever, a true testament to that American spirit that never gives up."
The NYBOT's previous headquarters were in Four World Trade Center and were destroyed in the September 11th terrorist attacks. Since that time, the NYBOT operated out of its backup site in Long Island City, Queens, New York, on an abbreviated trading schedule. Volume during this period continued to grow, with 17% volume growth in 2002, and 15% growth in 2003.
"We're very honored to have Rudy Giuliani, Chairman Newsome, and many others here with us today to celebrate our grand opening," said Fred Schoenhut, Chairman of NYBOT. "We have so many people to thank for making our move back downtown possible, and this is our way to say "thank you." I can say with all assuredness that the New York Board of Trade is now ready to face the future and offer our market users and members an efficient, state-of-the-art facility to trade our products."
Chairman Charles Gargano of the Empire State Development Corporation, President Andrew Alper of the NYC Economic Development Corporation, and Mitchell Steinhause, Vice Chairman of NYMEX, also spoke at the event. Timothy S. Carey, President and CEO of the Battery Park City Authority, was in attendance.
NYBOT opened its trading floor in the New York Mercantile Exchange (NYMEX) building on Tuesday, September 2, 2003, with special guests from the New York Police Department (NYPD), Fire Department New York (FDNY), and the New York Stock Exchange (NYSE).
The New York Board of Trade (NYBOT) is the parent company of the Coffee, Sugar and Cocoa Exchange, Inc. (CSCE) and the New York Cotton Exchange (NYCE). Through its two exchanges, NYBOT offers an expanding range of agricultural and financial products. Information about the New York Board of Trade can be found at www.nybot.com and www.nybotlive.com.
