The Atlanta Journal-Constitution
Trading floor reopens subdued
Number of traders limited, masks must be worn, plexiglass added.
NEW YORK — The trading floor of the New York Stock Exchange reopened for the first time in two months with New York Gov. Andrew Cuomo ringing the iconic bell, but the controlled chaos was more subdued Tuesday under new pandemic rules.
The floor, known worldwide for an anarchic atmosphere with traders shouting orders over one another, has been closed since mid-March due to the coronavirus outbreak. The NYSE — owned by Intercontinental Exchange, based in Atlanta — says fewer traders will be on the floor at a given time for now in order to support six-feet social distancing requirements. They also must wear masks, and plexiglass barriers have been added to the floor.
Anyone entering the Exchange at 11 Wall Street is also being asked to avoid public transportation and they will have their temperature taken before entry, said Stacey Cunningham, president of the NYSE.
Cunningham said most of the areas outside of the trading floor will remain empty and the majority of employees will continue to work remotely. Designated market makers, which oversee the trading of the NYSE’s 2,200 listed companies, will continue to do so remotely and electronically.
Several thousand brokers and others used to crowd the trading floor of the NYSE as recently as the 1990s, but these days there are about 500 floor traders.
The reopening comes at a time when many areas of the U.S. are starting to lift shelter-in-place orders and allowing businesses to open even as other areas of the country are seeing no drop-off in coronavirus cases. On Tuesday, however, the World Health Organization said the world remains mired in the first stage of the pandemic, putting a damper on hopes for a speedy global economic rebound.