Home Business Some NYSE trading floor personnel to return to remote operations

Some NYSE trading floor personnel to return to remote operations

Traders work on the floor of the New York Stock Exchange.

NYSE

Some New York Stock Exchange workers will return to remote working amid a surge in Covid-19 cases in the largest city in the U.S.

“On Monday, December 28, 2020, in response to changes in the NYC-area public health conditions, NYSE Designated Market Makers (DMMs) will temporarily return to remote operations (with limited exceptions),” the NYSE said in a statement on Tuesday. 

“DMMs will retain their regulatory obligations to maintain fair and orderly markets in all NYSE-listed securities and they will electronically provide liquidity and facilitate the auctions in their assigned securities. The NYSE trading floor will remain open and continue to support all NYSE Floor Broker activity, including ‘D Orders,” the statement said.

After a historic closure in March due to the coronavirus pandemic, the NYSE partially reopened its doors in late May. In the partial reopening, only about 80 floor brokers were welcomed back, about 25% of the number before the coronavirus pandemic.

Now, the NYSE is sending certain market makers back to their remote working locations due to the record number of Covid-19 cases in New York City.

December has been one of the grimmest months of the pandemic in New York. New daily coronavirus cases across the state recently eclipsed 10,000 for the first time since the spring and Covid-19 hospitalizations are soaring.

New York Gov. Andrew Cuomo announced Friday that restaurants in New York City will be forced to close their indoor dining sections.

Despite the Pfizer vaccine starting to be shipped out and administered last week, the U.S. is reporting at least 215,400 new Covid-19 cases and at least 2,600 virus-related deaths each day, based on a seven-day average calculated by CNBC using Johns Hopkins University data.