Covid Drags NYSE Into the 21st Century
The coronavirus has achieved what decades of competition and automation could not, and has halted trading on the NYSE floor. With no end in sight to the spread of the virus, and with technology now running the show, Max asks whether the floor is likely to ever reopen.
At the time of this writing, the New York Stock Exchange’s trading floor has been empty and closed for a week, and the exchange—which has long resisted moving completely away from open-outcry trading, despite dwindling numbers of floor traders—has been conducting trading on a fully-electronic basis.
The “temporary” move—implemented to protect floor specialists and brokers from the spread of the Covid-19 disease—sees NYSE finally fall in line with rival stock exchanges that have either discarded
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