This is big news not just because it's NYSE, but because many businesses are doing novel experiments catalyzed by this virus. Closing the floor and trading electronic-only has been technically possible for a while, but perhaps not politically viable. Now suddenly it is viable. Will such emergency measures be used as a moment to radically alter businesses and other systems sooner than otherwise expected?
I believe NASDAQ doesn't have a floor and hasn't had one for quite a few years.
A likely result of the current crisis is that many exchanges, which have long had the capacity to institute electronic trading only but which for historical reasons have elected to retain a floor, will fully embrace electronic trading. Peter Tuchman might be out of a modeling gig [0].
5 comments
[ 3.2 ms ] story [ 22.1 ms ] threadA likely result of the current crisis is that many exchanges, which have long had the capacity to institute electronic trading only but which for historical reasons have elected to retain a floor, will fully embrace electronic trading. Peter Tuchman might be out of a modeling gig [0].
[0] https://www.buzzfeednews.com/article/matthewzeitlin/meet-the...