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Even as the systems came back online, Pat remained at home on the phone, speaking with Steve, the NYBOT Board, regulatory agencies, users, traders, members, and employees. He received calls from other exchanges, including The New York Mercantile Exchange (NYMEX), The New York Stock Exchange (NYSE), The Chicago Mercantile Exchange, and The Securities Industry Automation Corporation (SIAC), offering anything that they had to help the NYBOT recover. Pat said that it was very gratifying to see the level of camaraderie and cooperation that these events brought out in everybody. However, it would have been very difficult for NYBOT to take advantage of the offers of computer hardware, as there are no standards between the different exchanges. NYBOT s primary hardware platform is Tandem. The NYSE s, for example, is not, and so it would have been very difficult, if not impossible, to get NYBOT s applications in a usable state on NYSE s platforms in any reasonable time period. But getting started at Long Island City was not easy, as many of the organizations with which NYBOT communicates were also taken out by the attack. As a result, although everything was working as designed in Long Island City, they had networks that were no longer of any value because they were running to
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demolished or empty buildings (like the World Financial Center, located across the street from the site of the World Trade Center). They had never established network links between LI City and these partner organizations recovery sites. On the night of September 11, Pat and Steve got off the phone at 1:30 in the morning. Steve slept in a chair in the Long Island City facility. The next morning, Pat made it to the DR site, having managed to drive to Queens from New Jersey. That task became much more complicated in the following days, as local authorities imposed restrictions on automobile access into Lower Manhattan and closed many river crossings in the New York area. When he arrived, he confirmed that everything had gone according to the plan, the systems were ready to go, and trading could begin. When members and traders began contacting Pat and Steve later in the day on Wednesday the 12th, they wanted to know when they might be able to begin trading again. They assumed it would be Friday or Monday before they d be ready, but, no, trading could resume immediately, at least from a computer perspective. In the end, though, that became a moot point, as all trading on all New York-area exchanges was suspended until Monday, September 17. Before traders even arrived, there was an operational problem to contend with. Even though the staggered trading schedule (90 minutes for each commodity) was going to be in effect, there was no place to gather the group of traders who were waiting to take the trading floor. They needed the ability to gather and prepare themselves without impeding the active trading that was already in progress, as well as a way to more easily move the active traders out of the trading area when their time expired. The answer: more space. In a great stroke of luck, the only other tenants in the Long Island City building had moved out months before, so there was a tremendous amount of available space in the building. NYBOT quickly made a bid and acquired the space. Once the space was acquired, Comdisco (the owners of the building) set to work preparing it to NYBOT s specifications, and in just a couple of days the space was ready to be used as setup space for incoming traders. (Comdisco assures us that under normal circumstances, this build-out would have taken a couple of weeks, if not longer.) Comdisco had obtained and set up tables, chairs, phones, and workspaces. This first upgrade greatly reduced tension throughout the organization, as it allowed members a space to work that was not on the trading floor, or in the way of active traders. Since trading was not scheduled to resume until Monday, few members had any plans to visit the Queens site before then. However, Pat, Steve, and the Board realized that Monday morning would be total chaos, what with most of the 1,000 members arriving at once, all looking for their familiar booths, trading pits, phones, and other facilities. Many of them would not be familiar with the staggered schedule and would expect to trade all day as normal. As this
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