NEW YORK -- The New York Stock Exchange will temporarily close its iconic trading floor in lower Manhattan and move to all-electronic trading beginning Monday as a precautionary step amid the coronavirus outbreak.
The trading floors of the NYSE and the NYSE American Options market in New York will be closed, as well as that of the NYSE Arca Options in San Francisco.
"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," said Stacey Cunningham, the NYSE's president.
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The exchanges will continue to operate under normal trading hours, she added.
Several thousand brokers and others used to crowd the trading floor of the NYSE as recently as the 1990s. But in the years since, the rise of electronic trading grew to dominate the action on Wall Street. These days, there are about 500 floor traders at the NYSE, said Josh King, a spokesman for exchanges operator Intercontinental Exchange, the parent company of the NYSE.
New York Stock Exchange to temporarily close its trading floor as precaution during coronavirus outbreak