Valdosta Daily Times

Top News

October 29, 2012

NYSE to trade electronically today, shut floor

NEW YORK — The New York Stock Exchange and the NYMEX are shutting their trading floors in New York Monday as Hurricane Sandy bears down on the Big Apple.

But trading will continue electronically on both exchanges.

NYSE Euronext said Sunday it is putting in place its contingency plans beginning Monday and will announce later when the trading floor will reopen.  

The New York Mercantile Exchange, a commodity futures exchange, also will be shutting on Monday its trading floor which is located in a mandatory evacuation zone. The CME Group, which owns NYMEX, said all electronic markets will open at their regularly scheduled times.

The moves come as Hurricane Sandy causes the shutdown of transportation systems throughout the region. Governor Andrew Cuomo said New York City’s subways and buses will shut down Sunday evening. New York City Mayor Michael Bloomberg ordered residents to evacuate some low-lying areas Sunday and said city public schools will close Monday.

Trading can still go on even without people yelling orders to buy and sell across the floor of the exchange because many orders on the NYSE are already handled electronically. On Monday, securities normally handled on the NYSE will shift to the purely electronic NYSE Arca.

The servers that handle all of the exchange’s transactions are housed in Mahwah, N.J.

Trading has rarely stopped for weather. A blizzard led to a late start and an early close on Jan. 8, 1996, according to the exchange’s parent company, NYSE Euronext. The NYSE shut down on Sept. 27, 1985 for Hurricane Gloria.

Since the Great Depression, the longest suspension in trading at the NYSE occurred after the attacks on the World Trade Center on Sept. 11, 2001, when the exchange closed for four days.

Sandy, a Category 1 hurricane with sustained winds of 75 mph as of Sunday afternoon, was blamed for 65 deaths in the Caribbean before it began churning up the Eastern Seaboard. It was expected to hook left toward the mid-Atlantic coast and come ashore late Monday or early Tuesday, most likely in New Jersey, colliding with a wintry storm moving in from the west and cold air streaming down from the Arctic.

Forecasters said the monster combination could bring close to a foot of rain, a potentially lethal storm surge and punishing winds extending hundreds of miles outward from the storm’s center. It could also dump up to 2 feet of snow in Kentucky, North Carolina and West Virginia.

 

1
Text Only
Top News
  • Michigan affirmative ban is OK, Supreme Court says

    A state’s voters are free to outlaw the use of race as a factor in college admissions, the Supreme Court ruled Tuesday in a blow to affirmative action that also laid bare tensions among the justices about a continuing need for programs that address racial inequality in America.

    April 23, 2014

  • ‘Piles and piles’ of bodies in South Sudan slaughter

    Gunmen who targeted both children and the elderly left “piles and piles” of bodies — many of those in a mosque — in a provincial capital in South Sudan, the U.N.’s top humanitarian official in the country said Tuesday.

    April 23, 2014

  • Obama_Stew.jpg Obama views mudslide scene

    Swooping over a terrain of great sadness and death, President Barack Obama took an aerial tour Tuesday of the place where more than three dozen people perished in a mudslide last month, then mourned privately with those who lost loved ones in the destruction.

    April 23, 2014 1 Photo

  • Wall Street_Stew.jpg Earnings and corporate deals lift U.S. stocks

    Corporate deals and some solid earnings reports propelled the stock market to its sixth straight gain Tuesday.

    April 23, 2014 1 Photo

  • Economy College Gradu_Stew.jpg Job market for college grads better but still weak

    With college commencement ceremonies nearing, the government is offering a modest dose of good news for graduating seniors: The job market is brightening for new grads — a bit.

    April 23, 2014 1 Photo

  • Supreme Court TV On t_Stew.jpg Internet TV case: Justices skeptical, concerned

    Grappling with fast-changing technology, Supreme Court justices debated Tuesday whether they can protect the copyrights of TV broadcasters to the shows they send out without strangling innovations in the use of the internet.

    April 23, 2014 1 Photo

  • Today in History

    In 1791, the 15th president of the United States, James Buchanan, was born in Franklin County, Pa.

    April 23, 2014

  • Stowaway teen forces review of airport security

    A 15-year-old boy found his way onto an airport’s tarmac and climbed into a jetliner’s wheel well, then flew for five freezing hours to Hawaii — a misadventure that forced authorities to take a hard look at the security system that protects the nation’s airline fleet.

    April 22, 2014

  • South Korea Ship Sink_Rich copy.jpg Death count in ferry sinking tops 100

    One by one, coast guard officers carried the newly arrived bodies covered in white sheets from a boat to a tent on the dock of this island, the first step in identifying a sharply rising number of corpses from a South Korean ferry that sank nearly a week ago.

    April 22, 2014 1 Photo

  • AP520422034 copy.jpg Today in History for Tuesday, April 22, 2014

    Today is Tuesday, April 22, the 112th day of 2014. There are 253 days left in the year.

    April 22, 2014 1 Photo

Top News
Poll

Given the amount of rain recently, what's your favorite “rain” song?

Singing in the Rain
Purple Rain
Have You Ever Seen the Rain?
November Rain
Rainy Night in Georgia
Other
     View Results