Weather Economy

New York Stock Exchange closes trading floor for Sandy

Marketplace Contributor Oct 28, 2012

UPDATED: The New York Stock Exchange announced late Sunday in a press statement that it will halt trading on Monday as a result of Hurricane Sandy. The exchange may remain closed Tuesday, pending confirmation:

“We support the consensus of the markets and the regulatory community that the dangerous conditions developing as a result of Hurricane Sandy will make it extremely difficult to ensure the safety of our people and communities, and safety must be our first priority. We will work with the industry to determine the next steps in restoring trading as soon as the situation permits.”

Earlier this evening, the New York Times reported the rare occurance in New York stock market history: “The New York Stock Exchange plans to close its trading floor on Monday as Hurricane Sandy approaches, relying instead on electronic trading as Wall Street braces for the storm to barrel through the heart of the country’s financial center.” Read the full story.

From the earlier press release: “We are open for business and at the same time acting in accordance with actions taken by the city and state of New York,” said Duncan L. Niederauer, Chief Executive Officer, NYSE Euronext. “We have been in discussions with government officials and regulators, our trading floor community, issuers and other customers.

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