A NYSE exec lays out data showing why the exchange is committed to reopening floor trading even as Wall Street adapts to remote work
- Michael Blaugrund, NYSE’s chief operating officer, told Business Insider the exchange is fully committed to reopening its trading floor as soon as it believes it’s safe to do so.
- Some market participants have questioned why exchanges’ trading floors would reopen if the markets can continue to operate without issues.
- Blaugrund said that while NYSE has transitioned seamlessly to an all-electronic environment, there has been a higher level of price dislocation as a result of not having a physical trading floor.
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As more Wall Street firms consider the long-term adoption of changes made due to the spread of the novel coronavirus, one industry staple is eager to return the first chance it gets: the New York Stock Exchange’s trading floor.
Michael Blaugrund, NYSE’s chief operating officer, told Business Insider the exchange is fully committed to reopening its iconic New York trading floor as soon as it believes it’s safe to do so.
“No matter what, we’re going to reopen the trading floor,” he said.
Blaugrund said there is no set timeline on when the trading floor could reopen, adding that there isn’t even a specific threshold NYSE is following to …continued .
[Source: Business Insider]