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NYSE is closing trading floor in response to coronavirus spread - Business Insider

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NYSE is temporarily closing its iconic trading floor and switching to all-electronic trading

NYSE said in a statement it would move to fully electronic trading starting on Monday, and would be initiating its business continuity plans.

"Our markets are fully capable of operating in an all-electronic fashion to serve all participants, and we will proceed in that manner until we can re-open our trading floors to our members," said Stacey Cunningham, president of NYSE, in a. "While we are taking the precautionary step of closing the trading floors, we continue to firmly believe the markets should remain open and accessible to investors.

The closing of NYSE's trading floor follows moves from exchange operators CME Group and Cboe Markets, both of which closed their Chicago-based trading pits this week. Some have suggested the money saved from the temporary closures couldNYSE last closed its famous trading floor in 2012 during Hurricane Sandy, however the markets shutdown entirely. As

 

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