The trading floor of the New York Stock Exchange will remain closed on Monday 29th October 2012 and all trading will be transferred to electronic trading only. The action was taken under advice from New York City & State officials who are preparing the East coast for the impact of Hurricane Sandy.
Duncan L. Niederauer, Chief Executive Officer at NYSE Euronext, commented:
“We are open for business and at the same time acting in accordance with actions taken by the city and state of New York.
“We have been in discussions with government officials and regulators, our trading floor community, issuers and other customers.
“We will continue to communicate and coordinate activities with regulators and government officials, other market centers, member firms and all of our customers. I would like to acknowledge everyone’s outstanding cooperation and singular focus on serving the best interests of people, safety and our capital markets. This is an extremely dangerous and unpredictable weather event, and we support the actions taken by city and state officials. On behalf of everyone at NYSE Euronext, our thoughts and prayers go to everyone impacted by the storm.”
The last time that the NYSE suspended physical trading floor operations was Friday, Sept. 27, 1985, when Hurricane Gloria swept through the nation.
JPMorgan Chase has also reacted to the impending storm by waiving some late fees on a number of products for customers in Connecticut, Delaware, Maryland, New Jersey, New York, Pennsylvania, Virginia and the District of Columbia.