Respecting the actions taken by New York City and State officials to declare a state of emergency, suspend local New York City transportation beginning this evening, and issue evacuations orders in the proximity of the New York Stock Exchange (NYSE) building , NYSE Euronext (NYX) has decided to suspend physical trading floor operations and invoke its contingency plans to trade all NYSE-listed securities on NYSE Arca, the company’s fully electronic exchange, beginning Monday, Oct. 29, 2012. NYSE MKT will be suspended during this period. The re-opening of physical trading floor operations is subject to city and state determinations and local conditions; updates will be forthcoming.
“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 L. Niederauer, Chief Executive Officer, NYSE Euronext. “We have been in discussions with government officials and regulators, our trading floor community, issuers and other customers.
“We will continue to communicate and coordinate activities with regulators and government officials, other market centers, member firms and all of our customers. I would like to acknowledge everyone’s outstanding cooperation and singular focus on serving the best interests of people, safety and our capital markets. This is an extremely dangerous and unpredictable weather event, and we support the actions taken by city and state officials. On behalf of everyone at NYSE Euronext, our thoughts and prayers go to everyone impacted by the storm.”
This 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. In this scenario, pursuant to NYSE Rule 49 and NYSE Arca Equities Rule 2.100, NYSE-listed trades would be identified on the Consolidated Tape with the NYSE exchange designation ‘N’, and quotes would be identified as NYSE quotes on the Consolidated Quote stream. During such a contingency plan, NYSE member organizations will be permitted to enter orders in NYSE-listed securities directly on NYSE Arca, even if not approved as an NYSE Arca ETP Holder. NYSE MKT member organizations that are also Arca ETP Holders may send orders in NYSE MKT-listed securities to NYSE Arca . Quotes and executions in Tape B and Tape C securities on NYSE Arca will continue to be reported as ‘P’ and there will not be a primary print for NYSE MKT-listed securities. While the NYSE Amex Options trading floor in New York will be closed, electronic trading on NYSE Amex Options will continue normally. NYSE Arca Options will also be operating normally, both electronically and on the physical trading floor in San Francisco, CA.The NYSE last suspended physical trading floor operations on Friday, Sept. 27, 1985 due to Hurricane Gloria, during which all U.S. markets were closed. For a full list of NYSE market closures, go to: http://www.nyse.com/pdfs/closings.pdf. IM 101-4
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