Taking Stock of the NYSE

by | May 26, 2020

The New York Stock Exchange reopened its trading floor today. New York Gov. Andrew Cuomo rang the opening bell after a historic two-month shutdown.

The world’s most famous financial market closed its floor two months ago due to the coronavirus pandemic. It was the first time the NYSE trading floor was closed while electronic trading continued.

It’s only a partial reopening — only about 80-floor brokers will be present, about 25% of the number before the coronavirus pandemic.

And there are strict rules. Everyone who enters the building will be required to take a temperature test, wear a mask, and sign a legal document stating they understand the risks and will follow the rules.

  • The NYSE will also prohibit anyone who used public transportation from entering

The NYSE says it is reopening out of economic necessity. Recent data demonstrate that the trading floor saves investors millions of dollars each day by making transactions more efficient.

Apparently, opening the floor just makes cents.

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