New York Stock Exchange partially reopens trading floor after pandemic-led closure

by   |  VIEW 430

New York Stock Exchange partially reopens trading floor after pandemic-led closure

Earlier on Tuesday, decking himself out in a face mask, the New York Governor Andrew Cuomo had rung the opening bell in the New York Stock Exchange, remarking a partial reopening of the trading floor in the 11 Wall St. building that remained sealed off since March 23rd as part of a pandemic-driven forced closure measure.

Besides, approximately 100 traders alongside regulatory and operational staffs, roughly 25% of the usual, who had appeared into the lower Manhattan building on early morning, had been asked to avoid public transports and screened for pandemic signs at the door, where they were also required to sign off a liability waiver letter.

Nonetheless, as the New York Stock Exchange has opened up its trading floor on Tuesday as part of a broad-based Government attempt to gradually reopen the economy, a majority of NYSE’s designated operational staffs, were still overseeing the trades of roughly 2,200 NYSE-listed companies from home.

More importantly, while the partial reopening of NYSE trading floor had led to a jump of Wall St. earlier in the day, an NYSE spokesman was quoted saying that the recent data showed a decline of volatility gauge alongside a lower spread between the “buy” and “sell” tags, in physical presence of the traders, potentially leading to a saving of millions of dollars for the investors.

NYSE partially reopens, but businesses are not as usual

Meanwhile, adding that a number of protective measures were introduced to make the trading floor noncontagious, NYSE President Stacey Cunningham said in an interview with CNBC earlier in the day, “When we paused for the past two months, we took the opportunity to learn a lot about this virus and what we learned is how to protect ourselves.

The protections have been designed to prevent an outbreak so that likelihood of infection passing around the floor is greatly diminished,” however, traders were quoted saying the businesses were not as usual on Intercontinental Exchange Inc.’s NYSE trading floor amid frets of a resurgence of the pandemic outbreak.