TOPLINE
The New York Stock Exchange trading floor is reopening on Tuesday after a two-month closure in the midst of the coronavirus pandemic that has badly hit New York City.
NEW YORK, USA - MAY 26: New York Stock Exchange (NYSE) building is seen with the Fearless Girl ... [+]
KEY FACTS
The NYSE trading floor is reopening with a number of changes that accommodate social distancing, including barriers to keep people at a safe distance from one another.
Just 25% of traders will be allowed to return to the floor, and will be screened and have their temperature taken on entry into the building.
They are also not allowed to take public transport to work, and must wear masks.
Traders must also sign a liability waiver to stop them suing the NYSE if they catch coronavirus, according to the Wall Street Journal, and recognise the risk that they face by returning to the floor.
Opening bell events are also on hold.
The NYSE is one of the few to still operate trading floors and electronic trading.
Crucial comment
Stacey Cunningham, NYSE President, said in a statement: “Today, May 26, marks the reopening of the NYSE trading floor, following its temporary closure two months ago in the early days of the COVID-19 pandemic.
“This moment comes as we begin working together across America to restart our economy. We are starting cautiously, with new safety measures to limit the strain on the health-care system and the risk to those who work beneath our roof.”
Key background
The NYSE closed for the first time in eight years on March 23, switching to electronic trading as the pandemic took hold in the U.S. It was last closed in the midst of Hurricane Sandy in October 2012. The reopening comes as several states across the U.S. continue to ease lockdown measures and reopen non-essential businesses in a bid to restart the economy.
Further reading
NYSE To Close Trading Floor After Trader Reportedly Tests Positive For Coronavirus (Forbes)
