NYSE to reopen the trading floor to certain market makers
A subset of designated marketplaces (DMMs) will be reintroduced into the trading room with a limited number of employees on the New York Stock Exchange (NYSE) on June 17.
The NYSE said that at the start of the second phase of its trading floor reopening as the lockdwon coronavirus, each DMM can return with limited staff to perform manual transactions, including the opening and closing of auctions, on securities allocated by the market maker.
“Until the full reopening of the trading floor, the NYSE expects a subset of securities listed on the NYSE to continue to be supported by the DMM remotely,” NYSE said in a statement. “The NYSE will post a daily list on its website of securities that will not be eligible for manual auctions conducted from the floor.”
The NYSE added that DMMs will be prohibited from accepting offers and verbal offers during this reopening phase. The trading floor community can however resume using public transport to access the site, while the trading floor continues to operate with reduced staff and with security measures to prevent the spread of the coronavirus.
The NYSE announced last month that it will partially reopen its U.S. options and stock trading floors on May 26, after stock traders around the world were forced to shut down the outcry and trading floor operations. in March at the height of the crisis. On March 23, NYSE switched to fully electronic operations as part of its business continuity plans amid the pandemic, alongside other CME Group and Cboe exchanges.