Market Overview

More Market Makers To Be Allowed Back On The NYSE Floor Wednesday

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More Market Makers To Be Allowed Back On The NYSE Floor Wednesday

Intercontinental Exchange Inc. (NYSE: ICE) owned New York Stock Exchange is allowing more market makers to return to the trading floor after partially reopening May 26.

What Happened

25% more market makers, who oversee trading in the exchange’s 2,200 listed firms, will be added to the trading floor from Wednesday, reported Reuters.

In the latest phase of reopening, verbal bids and offers will still not be allowed. The floor will operate with a reduced number of traders and additional safety precautions.

Why It Matters

NYSE shut its physical trading floor on March 23 after some traders tested positive for the new coronavirus.

According to Reuters, the exchange had moved to electronic trading only for the first time in its 228-year history.

Nearly 80 traders or 25% of the total number, were allowed back on the floors at the end of May.

In March, Benzinga PreMarket Prep co-host, Dennis Dick, said that a lack of floor brokers contributed to increased volatility in the markets at opening and closing due to imbalances.

ICE Price Action

Intercontinental Exchange shares traded 0.13% higher at $93.89 in the after-hours session on Monday. The shares had closed the regular session 0.87% higher at $93.77.

Image: NYSE

 

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