October 28, 2012

NYSE to Shut Trading Floor Monday, Trade Electronically

NBCNews:

“NYSE said on Sunday afternoon that it will close its physical trading floor operations for the first time in nearly three decades due to a weather-related emergency, but would move trading of NYSE-listed stocks to its fully electronic exchange. This is also the first time NYSE has ever gone fully electronic.”

Major change often comes from times of upheaval. How long will it be until NYSE Euronext decides tomorrow was a successful demonstration and permanently moves to a more profitable operation, one without trading posts, floor space or the building in which they’re housed? NASDAQ has been electronic-only since it opened.

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