The Strategist

NYSE fully switches to e-trading from March 23

03/19/2020 - 09:33

The New York Stock Exchange (NYSE) is closing the trading room to switch to electronic trading completely from Monday, March 23, after tests on the employee and trader COVID-19 coronavirus showed a positive result.

"Trading and regulatory oversight of all securities listed on the NYSE will continue without interruption," reads a statement from Intercontinental Exchange Inc., the exchange’s operator.

He said NYSE trading floors in New York and San Francisco will be closed. This step "is precautionary to protect the health and comfort of employees and the trading community in response to COVID-19," the press release notes.

The New York Stock Exchange stopped trading earlier. In October 2012, the exchange was closed for two days due to Hurricane Sandy. This break due to bad weather conditions was the longest since the XIX century.

However, the cessation of physical trading in the hall with the continuation of electronic commerce is the first in history, notes The Wall Street Journal.

Typically, there are about a thousand brokers and traders in the hall, but in recent days their number has dropped to about 250, according to the New York Post.