3:07 p.m., Oct. 17, 2008----After the inauguration of the Exelon Trading Center at UD on Thursday morning, Oct. 16, representatives from UD and Exelon paid a visit to the Big Apple to ring The Closing Bell® at the New York Stock Exchange (NYSE) at the end of trading that afternoon.
Eight UD business students accompanied UD President Patrick Harker and Ian McLean, executive vice president for finance and markets at Exelon, and Conrado M. “Bobby” Gempesaw, dean of the Lerner College of Business and Economics, on the trip to Wall Street.
Laura Voltz, a senior finance and accounting major from Claymont, Del, said she was amazed by the level of activity as traders were busily engaged in the midst of what would become a late afternoon stock market rally.
“We also got to talk to one of the traders, and he explained how his job worked and he let us watch what was happening on his computer screen, so we were actually watching the stocks being traded live,” Voltz said. “It was really an honor to be chosen as one of the students participating in the inauguration of the Exelon Trading Center and the trip to the NYSE. It definitely was one of the best and most unforgettable experiences I have had here at UD,” she said.
“The experience was amazing,” said Abner Tsadick of Wilmington, who is an Exelon employee and graduate student in UD's Executive MBA Program. “I have been infatuated with the whole mystique of Wall Street my whole life, and have also been intrigued as to what it truly is.”
Tsadick said that while he was somewhat surprised that the room was smaller than he envisioned, he was definitely impressed by the attitudes and actions of the traders on the floor who had to process large amounts of information and data in short periods of time.
“You could see that the people who work there love their respective jobs and wouldn't want to work anywhere else,” Tasdick said. “That's everybody's aspiration in life.”
While many blame Wall Street and the traders for the current financial crisis, Tsadick said that the people who work on the floor of the NSYE are everyday folks with families and retirement issues to worry about.
“They should not be used as scapegoats,” Tsadick said. “I feel that there is a bit of envy from the public as to some of the perceived salaries. Not everyone who works in that industry is a millionaire.”
Tsadick said NYSE represents something more than its history and status as a global center of business and finance.
“Personally, I will never forget it. It is the symbol of why America is so great, and it provides the dream that most people bring when they come to this country,” Tsadick said. “Being the son of immigrant parents, it gave me a glimpse into the hope of what they came here with.”
"In the words of our students, visiting the New York Stock Exchange experience was awesome," Gempesaw said. "Being allowed on the trading floor, watching first-hand the stock exchange transactions and engaging the traders provided us with a unique opportunity for understanding how the markets work. For all of us, it was an educational and exciting trip, including the closing bell ceremony."
Article Jerry Rhodes
Photo by Mel Nudelman, NYSE