New York Stock Exchange trading floor set to reopen today

27 Mai, 2020, 02:11 | Auteur: Auguste Feret
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On the same day that the New York Stock Exchange partially reopened its historic trading floor, Cboe Global Markets Inc. announced plans to open the doors to its Chicago site on June 8.

Traders wait in a physically distanced line to enter the New York Stock Exchange on May 26, 2020.

But only a handful of brokers will be allowed on the floor - and they'll have to have their temperatures checked, wear face masks and follow social-distancing rules, NYSE president Stacey Cunningham has said.

The NYSE said most of its designated market makers, who oversee trading in the exchange's 2,200 listed companies, will continue to work from home, as will most exchange employees.

The floor, known worldwide for the anarchic atmosphere of traders shouting orders over one another, was shuttered mid-March due to the coronavirus outbreak.

"We will respect the sacrifices of frontline workers and the city at large by proceeding cautiously, limiting the strain on the health-care system and the risk to those who work beneath our roof", Cunningham wrote in a Wall Street Journal op-ed.

Traders Return to Wall Street, With a Catch

NYSE Chief Commercial Officer John Tuttle said: 'The floor represents so much more than the several tens-of-thousands of square feet it occupies. But in the years since, the rise of electronic trading grew to dominate the action on Wall Street.

The NYSE now says it has consulted with public health and elected officials to develop a protocol that will allow the floor to be open with precautionary measures.

The reopening comes at a time when many areas of the USA are starting to lift shelter-in-place orders and allowing businesses to open their doors again even as other areas of the country are seeing no drop-off in confirmed coronavirus cases.

Worldwide, the virus has infected almost 5.5 million people, killing over 346,000, according to a tally by Johns Hopkins University. Dow futures surged more than 600 points with less than a half hour before the opening bell.

The NYSE did not experience any major disruptions during its electronic-only trading stint, even with record volumes and volatility, prompting rivals to say the floor, where stocks have changed hands since 1792, has no real utility.

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