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New York Stock Exchange trading floor to reopen May 26, with limits

By
Don Jacobson
A mostly empty trading floor is seen on March 20 at the New York Stock Exchange on Wall Street in New York City, its final day before it went to all-electronic trading for the first time in its history. The trading floor will reopen to a limited number of brokers on May 26. File Photo by John Angelillo/UPI
A mostly empty trading floor is seen on March 20 at the New York Stock Exchange on Wall Street in New York City, its final day before it went to all-electronic trading for the first time in its history. The trading floor will reopen to a limited number of brokers on May 26. File Photo by John Angelillo/UPI | License Photo

May 15 (UPI) -- The physical trading floor of the New York Stock Exchange will reopen after Memorial Day with new COVID-19 protective measures.

The historic floor, which has been closed since March 20, will reopen on May 26, the Tuesday after Memorial Day, NYSE President Stacey Cunningham wrote in an op-ed in The Wall Street Journal Friday.

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However, she added, the well-known crowds of traders jamming the floor will not return yet. Only a "subset of floor brokers" with face masks will be admitted at first and most of the NYSE's 2,200 credentialed members will continue working remotely.

"Bringing our physical trading floor back online will begin the process of returning the NYSE to the highest level of service for investors and listed companies," Cunningham wrote. "This is important because stocks trade better when the floor is open, with reduced volatility and fairer prices."

Under the new rules, brokers on the trading floor cannot use public transportation and will be subject to temperature checks.

"It isn't clear when America will resume business as usual," Cunningham added. "The virus will remain a stubborn reality but we can't keep the country closed indefinitely."

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The NYSE moved to all-electronic trading for the first time in history on March 23.

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