NYSE to shut floor, trade electronically

2012-10-28 22:56

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New York - The New York Stock Exchange will close its trading floor on Monday as Hurricane Sandy barrels its way up the Northeast, but trading will continue electronically.

The NYSE says it will invoke its contingency plans beginning on Monday. The New York Mercantile Exchange also will be shutting its trading floor which is located in a mandatory evacuation zone.

Trading has rarely stopped for weather. The NYSE shut down on 27 March 1985 for Hurricane Gloria.

Hurricane Sandy was headed north from the Caribbean, on course to meet a snowstorm and a cold front. Experts said the rare hybrid storm could cause havoc over 1 300km stretching from the East Coast to the Great Lakes.

Read more on:    us  |  weather  |  us superstorm

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