The New York Stock Exchange (NYSE) announced Wednesday that it will temporarily close its trading floor and shift to electronic trading starting March 23 after two people tested positive for coronavirus during medical screenings at their facility in New York.
One of the individuals infected was a broker that worked the trading floor while the other was an NYSE employee. Both were denied entry to the NYSE building this week after they failed to pass the mandatory screenings, according to a memo reviewed by The Wall Street Journal.
NYSE President Stacey Cunningham believes the "precautionary step" of moving to all-electronic trading will not disrupt its operations or inhibit investors from trading in the markets.
"While we are taking the precautionary step of closing the trading floors, we continue to firmly believe the markets should remain open and accessible to investors. All NYSE markets will continue to operate under normal trading hours despite the closure of the trading floors," the statement read.
This is the first time the NYSE's physical trading floor will be closed while electronic trading continues.