A view from the Member’s Gallery inside the NYSE (Photo credit: Wikipedia)
The New York Stock Exchange is preparing it’s computers for possible disasters similar to Hurricane Sandy. If a disaster strikes and prevents the traders from being on the floor, the trades will happen virtually on computers, making it the first time ever to have the exchange be run entirely by computers. Although the proposal as not yet been approved by the Securities and Exchange Commission, The New York Post said that under the proposed plan, the NYSE’s sister market Arca would handle trades.
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