New York Stock Exchange trading floor reopens

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The New York Stock Exchange (NYSE) has re-opened its trading floor after a two-month closure due to the coronavirus pandemic.

But the exchange looks and feels very different as new social distance rules come into effect.

The NYSE is one of the few bourses to still feature floor trade – most have shifted to fully-electronic trading.

New York City has been hit hard by the outbreak with some 200,000 cases and more than 20,000 deaths.

New York Governor Andrew Cuomo was on hand to ring the bell that re-started in-person trade, a sign of the symbolic weight attached to the reopening.

Financial markets have continued to trade throughout the pandemic, but the exchange’s trading floor was closed from 23 March and activity temporarily moved to fully-electronic trading to protect workers.

NYSE president Stacey Cunningham tweeted that reopening was an important step towards restarting the US economy after lockdowns across the country.

“For the trading floor community it supports their small businesses, which have been challenged by the temporary floor closure. And for our economy, reopening our trading floors offers a path to reopening that other businesses in densely populated areas may choose to follow.”

Source: BBC

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