On Thursday we visited the New York Stock Exchange. Officer Rick Lee of the First Precinct arranged our visit. Ever since 9/11, the stock exchange has been closed to outside tours, so this made the trip extra special. The security on Wall Street is incredible. The streets are blocked off from traffic and guards armed with AK-47's stand outside the Stock Exchange. We had to go through three security posts to enter the building. First, they asked for ID to make sure we were on the guest list. Then we had to get our picture taken for our special pass. Finally we passed through metal detectors. One of the senior security members was our tour guide. He explained that the Stock Exchange would be a prime target for a terrorist attack. He also explained that the exchange has four different backup power sources, because a loss of power would create chaos. The NYSE runs on two different generators, and two backup batteries.
Our guide took us up to the observation level. We got a birds-eye view of what was going on down on the trading floor. This viewing area is where most of the television news channels report business news. The action on the floor was intense. "Tellers" behind the trading counters are pounding away at their keyboards like machines, while "runners" are flying around with orders in their hands trying to gain the best deal for their clients. It was extremely fast paced. I cannot imagine working on the floor, being on your feet from 9 a.m. until 4 p.m. every day. It seems like it is an extremely stressful job. One miscue or missed opportunity can cost investors a lot of money. Overall, it was a great experience, and a wonderful learning opportunity.
