NYSE to Remain Open for Trading Electronically During Hurricane Sandy
Posted on October 28, 2012NYSE Euronext has announced that it will suspend physical trading floor operations and close its building due to Hurricane Sandy. However, it will invoke its contingency plans to trade all NYSE-listed securities on NYSE Arca, its electronic exchange, beginning Monday, Oct. 29, 2012.
Duncan L. Niederauer, CEO NYSE Euronext, said in a statement, "We are open for business and at the same time acting in accordance with actions taken by the city and state of New York. We have been in discussions with government officials and regulators, our trading floor community, issuers and other customers. We will continue to communicate and coordinate activities with regulators and government officials, other market centers, member firms and all of our customers. I would like to acknowledge everyone's outstanding cooperation and singular focus on serving the best interests of people, safety and our capital markets. This is an extremely dangerous and unpredictable weather event, and we support the actions taken by city and state officials. On behalf of everyone at NYSE Euronext, our thoughts and prayers go to everyone impacted by the storm."
CNN notes that the exchange also closed in 1985 for Hurricane Gloria and closed early due to a snowstorm in 1965. Some companies with headquarters in the lower Manhattan flood zone, such as AMEX, will be closed on Monday.