Thu, March 28, 2024

The Impact of Coronavirus on Stock Exchanges 

U.S. stock exchanges

 The U.S. government as well as other governments are working round the clock to contain the virus. However, nobody knows for sure, for how long the pandemic will continue to spread around the world. In this situation, stock exchanges face a dilemma. On the one hand, they want to protect their employees as well as traders. On the other hand, by closing trading floors they will create certain problems for traders.

Two days ago,  New York Stock Exchange (NYSE) announced that it will temporarily close its trading floor. As a result, NYSE will move fully to electronic trading starting from March 23.

It is worth mentioning that NYSE is not the first stock exchange to close its trading door as CME group made a similar decision. Last week, the group closed its Chicago trading floor as a precautionary measure.

This is a historic moment, as for the first time the physical trading floor will stop working while electronic trading continues, at the NYSE.

Exchanges in New York and Chicago made the right decision. 

Let’s have a look at the facilities affected by this decision. The list is quite impressive. NYSE equities trading floor as well as NYSE American Options trading floor in New York. 

 NYSE Arca Options trading floor in San Francisco will be closed from next week. 

Stock exchanges and their ownersCoronavirus and U.S. stocks

One of the best solutions is to embrace electronic trading, and stock exchanges in New York are actively working in this direction.

Major U.S. stock exchange Nasdaq, does not operate a physical trading floor.

As a reminder, Electronic trading group Intercontinental Exchange acquired the NYSE in 2012.

Over the time electronic trading grew on Wall Street, and NYSE adapted to the reality. 

Nevertheless, the physical trading floor is an integral part of the New York Stock Exchange, especially at a time when trading starts as well when trading comes to an end

Interestingly, the stock exchange operates from its building at Broad St. in Lower Manhattan from 1903. 

YOU MAY ALSO LIKE

Ford

Quick Look: CVA Family Office LLC snaps up 4,559 shares of Ford

The government aspires to make Portugal Europe's top producer of prime lithium for electric car batteries.

Quick Look: Atlas Lithium signs investment and offtake agreements with Mitsui. Mitsui

Stocks and various factors, Baltimore

Quick Look: The Francis Scott Key Bridge in Baltimore collapsed after a

COMMENTS

Leave a Comment

Your email address will not be published. Required fields are marked *

User Review
  • Support
    Sending
  • Platform
    Sending
  • Spreads
    Sending
  • Trading Instument
    Sending

BROKER NEWS

Plus500 Expands Office Space in Haifa and Boosts Hiring

Plus500 has significantly expanded its Haifa office space and increased recruitment efforts across various departments. Local news source Walla reports the brokerage has leased an additional 5,800 square meters in the Gev-Yam complex

BROKER NEWS

Stock Report – stock exchange background – WibestBroker

Plus500 Expands Office Space in Haifa and Boosts Hiring

Plus500 has significantly expanded its Haifa office space and increased recruitment efforts across various departments. Local news source Walla reports the brokerage has leased an additional 5,800 square meters in the Gev-Yam complex in