By By Julia Matias
The opening bell of Wall Street can now be heard on the South side of campus as the University commemorated the unveiling of a stock trading room.
The Frank G. Zarb School of Business held a ribbon-cutting ceremony Nov. 22 for the opening of the new trading room, located in C.V. Starr.
University President Stuart Rabinowitz welcomed students, faculty, members of the Board of Trustees and other key individuals.
Special guests included Frank Zarb, member and former chair of the Board, and Salvatore Sodano, former chief executive officer of the American Stock Exchange.
“The opening of the facility marks a significant milestone in the evolution of business education at the University, as it would create tremendous educational opportunities for present and future students,” Rabinowitz said.
The new trading room offers financial information through the 34 Bloomberg terminals, donated by Bloomberg Professional services, available for all business students and faculty.
“The terminals open a whole world of access to information and live trading,” Steven Gamelin, a junior business management major, said. “The opportunities are limitless.”
After two years of proposals, the University joins business schools nationwide with this room.
“The best business education [provides] opportunities for students to obtain real-world experiences through opportunities like internships, work studies, programs and innovative approaches like the trading room,” Rabinowitz added.
Esmeralda Lyn, professor of finance, said the trading room is an essential addition to the business school’s curriculum.
“It allows students to be Bloomberg certified and that’s an entry in their resume, which is very desirable,” Lyn said. “It’s a huge advantage. And a lot of courses can easily be held here like portfolio management, security analysis and investments. It’s really a very rich source of information”.
Sodano, Zarb and Arthur Levitt, former chair of the U.S. Securities and Exchange Commission, also shared their enthusiasm in the new opportunities the trading room can offer.
Levitt encouraged students to “have the guts to stand up for yourself,” especially in a society that is being constantly challenged. The trading room, he believes, will give students the opportunity to be more prepared to face the competitive environment of the business world.
Rabinowitz concluded the ceremony by presenting Levitt with the presidential medal, which has been awarded to former presidents, famous authors and others who have contributed greatly to expanding educational opportunities at the University.
Arthur Levitt, Frank Zarb and Salvatore Sodano cut the ribbon, marking the official opening of the University’s trading room. (Julia Matias/The Chronicle)