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During the course of the trading day, several sets of traders would occupy each booth. The telephones and telephone numbers in each booth were assigned to the booth, not to the traders; they were shared among all the occupants of a particular booth. A call to one of the six phones in row one, booth one at 9:00 A.M. might reach a cocoa trader; the same phone at 11:00 A.M. might reach a coffee trader. At 2:00 P.M., a sugar trader may answer. After some time passed, and everybody got accustomed to the new arrangements, things got a little more efficient, and so the changeover time was reduced from 30 minutes down to 20, adding 10 minutes to the trading day for each commodity. Without the full cooperation of the brokers and the entire NYBOT staff, this switchover would simply not work. Pat reports that the brokers have shown remarkable levels of cooperation. Before September 11, sugar traders traded an average of about 30,000 lots in a four-and-a-half-hour trading day. Since September 11, average trading volume has risen somewhat, but all the trades were being completed in just 90 minutes. That means that the rate of lots traded roughly tripled, from about 6,600 per hour to more than 20,000 per hour. What s more, since NYBOT trades manually rather than electronically, there is a tremendous amount of posttrading day activity that must be done to close the day. Because of the compressed schedule, all of that work must be done in less than the half-hour (now 20 minutes) that the traders have to clear the floor.



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then converges weakly in the space d toward a zero-mean stationary Gaussian process Y with almost surely continuous paths.

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everybody mentioning our Omniture Discover product and we ll aggregate those and label them brand neutral, brand advocates, and brand detractors. Obviously, that s ineffective when someone says, This is a terribly good product. While Matt agrees that there are really no natural language searches that are 100 percent effective, he points out something that people obsessed by the numbers often forget: You don t need absolute speci cs. It s the trends that matter and they are directional. Are your brand advocates increasing faster than your brand detractors So they re out there talking about you. So they re out there emoting about you. So what Is it causing a reaction of any kind

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NYBOT has been able to add an additional 100 phones to the trading reconciliation area, as well as provide additional trading input terminals. Both of these improvements have resulted in increased efficiency in trade reconciliation, and a little less work that needs to be done on the trading floor. Another unforeseen complication was with the financial instruments traders (U.S. dollar, and foreign currencies) who also traded at 4 WTC. The disaster recovery plan for them was to fly to Dublin, Ireland, where they would resume their trading activity on NYBOT s Dublin trading floor. Their exchanges quickly learned that flying anybody anywhere in the days after September 11 was going to be difficult, so the decision was made to find some space for them within the Queens facility. Adding to the complexity, because the financial traders work with exchanges at other facilities, they do not get to set the hours in which they trade. In order for them to trade, they must do so at all hours that trading is done. This means that they cannot share the facilities at NYBOT with other commodities; instead, they must have their own area in which to trade. They don t need trading pits, but they do need full-time phones and booths to trade from, reducing the pool of booths available to be shared among the commodities traders.

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where the flj;t g are i.i.d. copies of the process flt g. In view of the ordinary CLT, the nite-dimensional distributions of the process Y N converge weakly to limiting Gaussian distributions. Weak convergence of the sequence fY N gN >0 will then hold provided it is tight. Since L N is the superposition of N i.i.d. on=off rate processes lj with peak rate 1, Eq. (5.15) entails that

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By rearranging seating and other facilities, NYBOT was able to add a pair of smaller trading rings for orange juice and cocoa, the two commodities with the fewest traders and lowest average volume. By clearing those traders away from the main rings, they have been able to extend trading on the other commodities. By early February 2002, 12,000 square feet of trading space was available, more than double the space they had on September 17. They added two more rings by mid-February 2002, allowing even more trading for longer periods each day. Additional facilities are being added to Long Island City beyond trading space. Upstairs, away from the trading area, a small lounge and lunchroom are being put in, as well as a coatroom to get coats off the trading floor. The additional space will also include conference rooms, offices and cubicles for staffers, and additional trading preparation space, including more telephones and data entry space for traders. This additional space will further reduce the amount of work that must be done on the trading floor at the end of each commodity s session.

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