NYSE Prepares to Launch Its First All-Electronic Trading Day to Prevent Coronavirus

The Securities and Exchange Commission on Saturday published an adjusting rule allowing the New York Stock Exchange to conduct all-electronic trading, starting from March 23, 2020.

NYSE decided to temporarily close the trading floors in response to protect the health and well-being of employees and the floor community against the Covid-19.

SEC tweeted on the same day that stock markets will remain open as usual with normal market hours, but the platform of trading will be moved to fully electronic. And somehow circuit breaker that would halt trading shortly when the S&P 500 decline by 7%, 13% and 20%  will continue existing.  

SEC as well noted that the rule filings were temporary until May 15 or sooner if the trading floor reopens

As for calls to close trading or shorten market hours, there is no support among market participants like NYSE President Stacey Cunningham, NASDAQ President Adena Freidman and CME CEO Terry Duffy 

Regardless, most trading firms seem positive to allowing the traders to conduct business at home.