It’s the return of the trading floor and floor trader.
The New York Stock Exchange might reopen in phases after May 15, two sources who were on a conference call with NYSE Chief Operating Officer Michael Blaugrund told CNN Business. The sources also said that the exact timing is possible to revision.
During the call, Blaugrund was reported as speaking with NYSE employees, heads of firms and brokers when he made the statements.
New York Governor Andrew Cuomo currently has ordered residents and businesses in the state of New York to remain home or closed via “stay-at-home” orders until May 15th. Only workers and businesses considered “essential” are allowed to work and move freely.
Blaugrund said that when the storied trading floor does open, there will be fewer employees and a social distance policy in effect, according to sources on the call. Temperature checks could also be instituted for employees and visitors.
The NYSE closed its trading floor in March and went to fully electronic operating model to prevent the spread of COVID-19. At that time two persons at NYSE tested positive for COVID-19.
coronavirus. The move came shortly after the NYSE sent an update to traders informing them that two people — a member of the trading floor community and an NYSE employee — tested positive for the virus.
The move to electronic trading was seamless, according to traders contacted by Traders Magazine.