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TSE head 'extremely touched' by NYSE reopening ceremony.

TOKYO, Sept. 18 Kyodo

Tokyo Stock Exchange (TSE) President Masaaki Tsuchida said Tuesday he was moved by Monday's reopening ceremony at the New York Stock Exchange (NYSE), saying it highlighted the world's largest bourse's tradition of ''being with the citizens.''

''I was extremely touched by the ceremony, which I saw on television last night,'' Tsuchida told a press conference.

''After a two-minute silent prayer for the victims, firefighters and policemen rang the opening bell while dignitaries, including New York Mayor (Rudolph) Giuliani and U.S. Treasury Secretary (Paul) O'Neill, looked on. That showed that the NYSE, the center of the U.S. economy, is being and acting with the U.S. citizens,'' he said.

The NYSE still maintains a physical trading floor to leave trading open to floor traders. The TSE, on the other hand, abolished its trading floor in April 1999 and later switched its entire trading to electronic transactions.

''We think that we are more advanced than New York when it comes to that (electronics trading), but it is true that we would not be able to have something like that happen,'' Tsuchida said.

Still, the TSE can, and will, try to match the spirit demonstrated by the NYSE in the ceremony of ''always being with citizens and investors,'' he said.

The ceremony, which was carried live on Japanese broadcasting stations, also featured a solo rendition of ''God Bless America,'' and reflected the strong Wall Street determination to achieve a full reconstruction of the global financial center.
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Publication:Japan Weekly Monitor
Date:Sep 24, 2001
Words:249
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