NYSE preparing to operate without human traders in case of disaster
Quotes

NYSE preparing to operate without human traders in case of disaster

Last Updated: Sunday, March 10, 2013, 21:44
 
 Comment 0
 
NYSE preparing to operate without human traders in case of disaster
Washington: The New York Stock Exchange (NYSE) is preparing to be able to operate without human traders in case another disaster forces the shutdown of its historic trading floor in downtown Manhattan.

According to report by The Wall Street Journal, NYSE Euronext will submit details of the plan to the U.S. Securities and Exchange Commission.

People involved in the preparations said that if activated, the plan would represent the first time the 221-year-old exchange would rely entirely on computer systems.

According to Fox news, the sources revealed that the disaster plan would shift trading entirely to Arca, NYSE''s all-electronic sister market.

It would replace NYSE''s current backup plan that calls for the exchange to remain open in a limited capacity while sending orders to Arca to be filled, they added.

Superstorm Sandy forced the first weather-related multi-day shutdown of the U.S. stock market in over 120 years when it struck the East Coast in October.

ANI


First Published: Sunday, March 10, 2013, 21:44


Comments


comments powered by Disqus
New York Auto Show
New York Auto Show
Top Businesswomen in India
Top Businesswomen in India
World`s top ten billionaires 2014
World`s top ten billionaires 2014
2014 Geneva International Motor Show
2014 Geneva International Motor Show
Geneva Auto Show 2014
Geneva Auto Show 2014

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved