NYSE to shut floor, trade electronically

2012-10-28 22:56

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.

  • lala.kunene - 2012-10-29 02:29

    Lord have Mercy

  • beverly.young3 - 2012-10-29 06:55

    I saw the most intersting story the other day. NYSE trades one billion shares a day,(average)which amounts to in excess of one billion trillion dollars! (excuse me, I have no idea of this kind of money), anyway, they, soley affect the wealth of the world. One trader on the floor, is 94 yrs old and has been there since he was 16.

      stephen.reeves.908 - 2012-10-29 11:14

      If 1 billion shares were traded and there was 1 billion trillion dollars in trade, each share would cost a trillion dollars. This doesn't look accurate at all. NYSE share value is about $15 trillion.

  • manamela.moshe - 2012-10-29 07:57

    Why those hurricane names are only for women. never had a huricane by the name of a man.

      richard.bosmano - 2012-10-29 08:43

      Hurricane Andrew ring a bell?

      beverly.young3 - 2012-10-29 09:27

      "Hell hath no fury"......tee hee

      petrus.ngwenya.3 - 2012-10-29 14:15

      Because you cannot reason with them, and when they leave your house and car is gone....

  • pages:
  • 1