The New York Stock Exchange (NYSE) will temporarily close its trading floor and move to electronic training as a result of the COVID-19 pandemic, APA reports.
All-electronic trading will begin with Monday's market open, according to a report by CNBC. The floors that will close include the "NYSE equities trading floor in New York, NYSE American Options trading floor in New York and the NYSE Arca Options trading floor in San Francisco."
In a Wednesday statement, Stacey Cunningham, President of the NYSE, confirmed the news: "NYSE’s trading floors provide unique value to issuers and investors, but our markets are fully capable of operating in an all-electronic fashion to serve all participants, and we will proceed in that manner until we can re-open our trading floors to our members."
“While we are taking the precautionary step of closing the trading floors, we continue to firmly believe the markets should remain open and accessible to investors. All NYSE markets will continue to operate under normal trading hours despite the closure of the trading floors," Cunningham added.
According to CNBC, the decision to temporarily close the NYSE was made after someone who works at Big Board tested positive for the coronavirus. This week, the NYSE had also started medically testing people entering NYSE trading floors, CNBC reported.