How the New York Stock Exchange Works
New York Stock Exchange is about to reopen its trading floor after a two-month close due to the pandemic.
The NYSE is one of the few exchanges that still has indoor trading, most of which have moved to a fully electronic format..
However, the workflow will look slightly different..
New York City has been hit hard by the coronavirus. The city has recorded about 200 thousand cases of the disease and more than 20 thousand deaths.
According to the new rules, only a quarter of the usual number of traders will be able to return to work..
They will have to wear masks and follow strict social distancing guidelines. In addition, the temperature of employees will be regularly measured at the entrance and exit of the building..
To return to their work, traders will have to sign a document that removes responsibility from the exchange administration if a person becomes infected on the NYSE..
As The Wall Street Journal writes, traders should understand that returning to the trading floor can lead to the fact that they are at risk of contracting Covid-19, get respiratory failure, as a result of which they can die, as well as infect the virus to their families and others. who may also suffer from the effects of the disease.
The new rules imply that the opening of the exchange will take place calmly, without any high-profile events..
The media that usually broadcast from the marketplace until they are admitted to its territory.
NYSE President Stacy Cunningham tweeted that the resumption of operations will be an important step towards restarting the US economy.
The exchange’s trading floor has been closed since March 23 and has been temporarily switched to fully electronic trading as a preventative measure to protect employees.
The NYSE last closed its doors on October 29, 2012 due to a hurricane «Sandy». The New York Stock Exchange also closed for four sessions following the September 11, 2001 terrorist attacks..
For most people outside the financial services industry, the NYSE marketplace is an opportunity to watch the seemingly opaque workings of global markets, and it is also a convenient platform for companies planning to showcase their debut steps in the stock market..
The NYSE, owned by the Intercontinental Exchange, is the world’s largest stock exchange by total market capitalization of listed companies..
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