"Seeing our commodities trade this morning was a very moving experience for me and for all of the NYBOT members and staff here today," said Frederick W. Schoenhut, Chairman of NYBOT. "Our exchange has been through considerable turmoil as a result of the September 11th terrorist attacks, and to now finally put that event behind us and move into our new home at One North End Avenue is a great moment in our history."
The NYBOT's facilities in Four World Trade Center were completely destroyed in the September 11th terrorist attacks. Since that time, the NYBOT has been operating on an abbreviated trading schedule out of its backup site in Long Island City, Queens, New York. On February 26, 2003, Governor George Pataki, Mayor Bloomberg, and NYBOT and NYMEX officials announced that the exchange was moving back to the financial district and into the NYMEX building in September 2003.
"Our exchange never would have been able to rise above the challenges of September 11th had it not been for all the hard work and determination of our members and staff, the efforts of the New York Mercantile Exchange (NYMEX), and the broad support we received from so many sources including the government and the private sector," said NYBOT President and CEO Charles H. "Harry" Falk. "NYBOT will continue to provide an efficient and orderly marketplace for our products to trade, and with our new, state-of-the-art trading facility, we look forward to a bright and successful future."
No problems were reported to have occurred with the opening. Initial volume was estimated to be 87,320, a normal trading day.
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 and their subsidiaries and divisions, NYBOT offers an expanding range of agricultural, currency and index products. Information about the New York Board of Trade can be found at www.nybot.com and www.nybotlive.com.
