NYSE will allow some market makers to return to the trading floor on Wednesday
The New York Stock Exchange (NYSE) announced that it would allow a limited number of market makers to return to the trading floor on Wednesday after nearly three months of closure due to the coronavirus outbreak.
Designated market makers from 2,200 listed companies would be permitted to come back this week and they would have to sign waivers and submit to medical screenings and random testing for the coronavirus. Inside the venue, they would also be required to practice social distancing, wear face masks, and deal with the market activity via hand-held devices instead of open outcry.
“This is a really important milestone for us. The expectation is that we’ll have the human DMMs (designated market makers) to provide the manual opening and closing auctions, which are critical for price discovery and liquidity,” NYSE’s Chief Operating Officer Michael Blaugrund stated in an interview.
“The trading floor will continue to operate with reduced headcount and additional safety precautions,” he added.