Good Question: Why Are People Who Ring The NYSE Bell So Happy?

MINNEAPOLIS (WCCO) -- Seeing stock market swings of several hundred points is not unusual these days.

But it can be strange to see people standing up clapping and cheering after the market takes a big dive.

So, that had Terrence from St. Paul, Bob from Northfield and Dale from Red Wing wanting to know: Why are they so happy?

On most weekdays, a group of people stand up in front of the New York Stock Exchange to ring the opening bell at 8:30 a.m. and the closing bell at 3 p.m.

Among the groups who have rung the bells are publicly-traded companies, non-profit organizations and a variety of celebrities.

President Ronald Reagan, Miss Piggy, Usher, Phil Mickelson and Jessica Simpson have all had a turn.

Several Minnesota companies have had their chance to open or close the market, including Hormel, Target, Polaris and Deluxe Corporation.

"It was fantastic for us to get out and celebrate an exciting event, Ed Merritt, vice president of investor relations and treasurer at Deluxe, said."

Deluxe, a small business service company based in Shoreview, rang the opening bell on Nov. 23, 2015. It was 100 years to the day after their founder, W.R. Hotchkiss, opened his first office in St. Paul.

Merritt had requested that date one-and-a-half years in advance. The NYSE says it books its bell-ringers six months out.

Companies going public or celebrating a certain event are generally given the opportunity to ring the opening bell.

Among those on stage with Deluxe were an executive with the NYSE, several Deluxe executives, including CEO Lee Schram, and some long-time employees who had never visited New York City before. One of the employees was the son of a retired Deluxe employee who brought his father along.

Given the folks from Deluxe rang the opening bell, they never had to deal with the chance of cheering and clapping before millions on a down-stock-market day.

"It's tough, believe me, it's on your mind beforehand," Merritt said. "If you had to choose, you'd rather be there on a day the market's going to go up 400 points."

But, ultimately, the companies consider ringing the bell not as an opportunity to celebrate the market, but rather their accomplishments; whether it is a new product launch, IPO or anniversary.

"To be able to be where so many companies grew up, they've gone public, all the capital, the innovation, the technology, the jobs that have been created there," Merritt said. "It's an overwhelming experience."

It is estimated that 100 million people from all over the world watch the bellringing each day.