CME trading floor coronavirus reopen is 'complicated'
NYSEofficials likely to address any timetable for reopening the floor: Gasparino
Sources tell FOX Business’ Charlie Gasparino that NYSE officials are unlikely to set a firm date on reopening the floor but could provide guidance on plans and New York Governor Andrew Cuomo’s plan to reopen the state by region.
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U.S. exchanges with floors of traders elbow-to-elbow were not created with pandemics in mind which is creating challenges for the reopenings of these institutions which closed weeks ago as the coronavirus ripped through the nation.
CME GROUP INC
"Our situation, however, is complicated by the unique nature of open outcry trading in our markets. As anyone who has traded in an open outcry pit can attest, there is no way to effectuate social distancing requirements. Solutions that may be practical for other trading environments are unworkable for our trading floors" said CME Chairman Terry Duffy in his annual meeting remarks shared with FOX Business on Wednesday.
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