The facilities to be closed include the NYSE equities trading floor in New York, NYSE American Options trading floor in New York, and NYSE Arca Options trading floor in San Francisco. While electronic trading has long dominated the “Big Board” floor broker order types still exist and thus will temporarily not be available. Open outcry on the options markets will be halted too.
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NYSE to migrate to fully electronic trading on Mon Mar 23 as it initiates “business continuity plan”
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Stacey Cunningham, President of the New York Stock Exchange, issued the following statement: “NYSE’s trading floors provide unique value to issuers and investors, but 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. 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. All NYSE markets will continue to operate under normal trading hours despite the closure of the trading floors.”
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