Yes, the LSE, ASX, and others have gone all electronic, but I don’t think the NYSE is going that way anytime soon. A seat on the exchange still goes for quite a bit . The NYSE has talked for years about going all electronic, or some sort of hybrid. However, I think there is too much money being made by the people on the floor and who own seats to let the exchange close the floor.

I’m surprised your friend thought the exchange was small. It stretches among two buildings, and there are several smaller rooms on the floor. I don’t know how big one would think that it is, but I always think it looks bigger in person than it does on TV. If you’ve ever been to a TV set in NYC, you know how small they look, and seem much larger on TV. I wouldn’t say that for the NYSE.

I wouldn’t disagree that the NYSE is normally relatively quiet. Quiet at least in comparison to the CBOT, but still it can be lively around the open and close.