NYSE to close physical floor for hurricane Sandy, trading resumes

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New York Stock Exchange will close its physical trading floor and its New York building on Monday due to hurricane Sandy, while electronic trading will remain, according to the latest statement by the stock exchange on Sunday.

NYSE Euronext, the exchange's parent company, decided to invoke its contingency plans to trade all NYSE-listed securities on NYSE Arca, the company's fully electronic exchange on Monday.

The NYSE Amex Options trading floor in New York will also be closed, while electronic trading on NYSE Amex Options will continue normally.

According to the company, the NYSE contingency plan was most recently tested by the industry on March 31, 2012, and allows for uninterrupted trading in NYSE-listed securities in the event the physical trading floor is unavailable.

"We are open for business and at the same time acting in accordance with actions taken by the city and state of New York," said Duncan Niederauer, CEO of NYSE Euronext. "We have been in discussions with government officials and regulators, our trading floor community, issuers and other customers."

The re-opening of physical trading floor operations is subject to city and state determinations and local conditions, the exchange said in the statement.

This will be the first time since 1985 for the NYSE to suspend its physical trading floor operations due to severe weather conditions.

Meanwhile, CME Group's New York Mercantile Exchange (NYMEX) also said its New York trading floor will be closed on Monday while all of its electronic markets will be open at their regularly scheduled times on CME Globex and CME ClearPort, its online electronic platforms. Endi

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