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New York Stock Exchange trading floor to reopen

Tuesday - May 26, 2020 2:57 pm , Category : WORLD
New York, May 26 (IANS) The New York Stock Exchange (NYSE) is set to reopen its trading floor on Tuesday after a two-month closure due to the coronavirus pandemic.
But the exchange was likely to look and feel very different as new rules come into effect, the BBC said in a report.
The NYSE is one of the few bourses to still feature floor trade - most have shifted to fully-electronic trading.
Under the new measures only a quarter of the normal number of traders will be allowed to return to work.
Traders must also avoid public transport, wear masks and follow strict social distancing rules, with newly fitted transparent barriers to keep people apart.
They will also be screened and have their temperatures taken as they enter the building.
Anyone who fails pass the check will be barred until they test negative for COVID-19 or self-quarantine in accordance with US government guidelines.
To return to their jobs, floor traders will also reportedly have to sign a liability waiver that prevents them from suing the NYSE if they get infected at the exchange.
The new regulations also mean that the NYSE's high-profile opening bell events and stock market debut celebrations have been put on hold as visitors are banned.
Media organisations that usually broadcast from the trading floor won't be allowed back until further notice, the BBC reported.
NYSE president Stacey Cunningham tweeted that reopening was an important step towards restarting the US economy after lockdowns across the country.
The exchange's trading floor was closed from March 23 and temporarily moved to fully-electronic trading as a precautionary measure to help protect workers.
The 228-year-old exchange last closed its doors on 29 October 2012 due to Hurricane Sandy.
The NYSE also shut for four sessions in the aftermath of the 9/11 terrorist attacks in 2001.

--IANS ksk/