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data from Long Island City to the new site without incident for over two months. Everyone felt a lot more comfortable once the Lower Manhattan data center came online and Long Island City was no longer a single point of failure. The Manhattan data center also ensured that they can relocate the development staff from Queens, removing a lot of the people from that site, freeing up space and other resources. Not only didn t they have a backup site before Manhattan came online, but they were using their production systems for development, a state of affairs that had made Steve very uncomfortable.
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The New Trading Facility
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Within days of the migration to Queens, Pat and his staff began the search for a new trading facility. They looked at nearly 20 different sites over a period of several months before they found the right one. They settled on the New York Mercantile Exchange building at 1 North End, overlooking the Hudson River. 1 North End is an ironic choice because of its location, just a block and a half west of the World Trade Center site. The prospect of returning to the same neighborhood has made some of their members and employees uncomfortable, but from a business perspective, 1 North End is the right choice for NYBOT. Since they are relocating back into their original neighborhood, now called The Liberty District, they are entitled to federal money to rebuild their facilities. NYBOT received a piece of the $20 billion that Congress allocated to rebuild Lower Manhattan. They also received direct, personal appeals to return to the neighborhood from New York City s Mayor Michael Bloomberg and New York State s Governor George Pataki, as well as from some of the economic agencies who are chartered with rebuilding Lower Manhattan in the wake of the attacks. Before The New York Mercantile Exchange ( The Merc ) built and moved into its building at 1 North End, the New York Cotton Exchange and the Coffee, Sugar and Cocoa Exchange (before they merged into NYBOT) had been in discussions with them and their other sister exchange, The New York Commodities Exchange (Comex), to build a shared building. When negotiations went too slowly, the Merc went ahead and built their own building for themselves and the Comex, whom they had acquired. In mid-2003, NYBOT moved into the seventh floor of 1 North End, a floor that had been roughly half vacant for several years, sharing the floor with the Comex. As part of the move, the trading floor was completely renovated. Comex moved to the formerly empty portion, and NYBOT took over Comex s vacated area. This design is the result of months of designs and redesigns, and nearly 40 sets of plans. The plan was in many ways like a jigsaw puzzle; space had to be found for Comex s 8 trading rings, plus the 13 that NYBOT would
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have. Since the floor has only one proper entrance, there needed to be sufficient space so that the various groups of traders could move to and from their trading rings without getting in each other s way. The trading floor is a triple height space, with a 30-foot ceiling. It extends up through the 8th and 9th floors, but it does not use up all of those floors. Remaining space on those floors will be used by both exchanges for office space, trade clearing, and other administrative functions. Additional space on 7 was allocated for cafeterias and other trader amenities. In addition to the trading floor space on the 7th floor, NYBOT will have space for trading support staff on the 8th floor and executive offices on the 13th floor. In the end, NYBOT will have just over 13,000 square feet of trading floor space at 1 North End, and the Comex will have slightly less. The 13,000 square feet is approximately the same amount of trading space that they had at the World Trade Center. Before they completed the move to 1 North End, NYBOT operated without a disaster recovery site for their main trading floor. The data center functions in Long Island City will continue to be replicated to Lower Manhattan until the move to 1 North End, at which time the direction of replication will be reversed.
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