Grasso: NYSE protecting people while giving them access to money
Former NYSE Chairman Richard Grasso on the New York Stock Exchange floor closing due to the coronavirus.
The raging coronavirus will close the New York Stock Exchange's floor operations on Monday, March 23 after employees tested positive for the disease.
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While the exchange, which is owned by Intercontinental Exchange, remains open for business, with all transactions moving to an electronic platform, with the closure viewed as largely symbolic.
INTERCONTINENTAL EXCHANGE INC.
It is rare for the epicenter of capitalism to close outright, but it has happened for catastrophic events.
CORONOVIRUS TO CLOSE NYSE FLOOR OPERATIONS ONLY
FOX Business takes a look at the closings that made history.
Coronavirus/COVID-19: March 23, 2020 – TBD
Despite the testing of employees and guests prior to entering 11 Wall Street several tested positive for the coronavirus forcing the Big Board to suspend floor trading only, moving all transactions to an electronic platform.
NYSE executives faced some criticism for the slowness in closing the floor as the majority of Americans work from home to lessen the outbreak.
The move, a matter of public safety, is not be taken as a sign markets are closed.
Treasury Secretary Steven Mnuchin promised U.S. financial markets will remain open despite the coronavirus.
WHAT IS THE VIX?
The CME, the world's largest derivatives firm, was the first exchange to close floor operations during coronavirus followed by the CBOE.
SHORTER TRADING HRS. DUE TO CORONAVIRUS? CME TO MNUCHIN, MAKES NO SENSE