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NYSE to temporarily close floor, move to electronic trading due to coronavirus

• jzwinck 7y ago
  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?
  • pseudolus 7y ago
    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]. [0] https://www.buzzfeednews.com/article/matthewzeitlin/meet-the-most-photographed-trader-on-wall-street https://www.buzzfeednews.com/article/matthewzeitlin/meet-the...
    • perl4ever 7y ago
      When did Nasdaq ever have a floor? -AQ stands for "automated quotations".
      • pseudolus 7y ago
        When they initially started operations quotations were electronic but trading was not.
        • perl4ever 7y ago
          Because they didn't have trading then, they were just a quotation service?