NYSE Trading Floor Opens Second Phase On June 17
On Wednesday, June 17 2020, NYSE will begin the second phase of its Trading Floor reopening with the reintroduction of a subset of Designated Market Makers (DMM). Each DMM unit may choose to return a limited number of staff to conduct manual trading, including the opening and closing auctions, in the DMM unit’s assigned securities. DMMs will be precluded from accepting verbal bids and offers during this phase of the reopening.
The Trading Floor will continue to operate with reduced headcount and additional safety precautions to accommodate health-focused considerations.
Until the Trading Floor fully reopens, NYSE expects a subset of NYSE-listed securities will continue to be supported by the DMM remotely. NYSE will publish a daily list on its website of those securities that will be ineligible for manual auctions conducted from the Floor.
Additionally, the Trading Floor community is now welcome to resume the use of public transportation.
Members seeking admittance to the floor should review NYSE IM-20-03 and contact firstname.lastname@example.org for additional details.
A study found productivity is highest among employees who opted for the most flexible work models.
CCPs will continue to consider the impact of margins on market liquidity.
Lee Olesky, CEO and Billy Hult, President at Tradeweb discuss the impact of the COVID-19 pandemic.
Systems, programs and models based on pre-COVID-19 data may no longer be accurate.
Retiring Vice Chairman and co-founder says the legacy of 2020 can be a positive one.