June 15, 2020 / 7:09 PM / a month ago

NYSE to reopen trading floor to some market makers on Wednesday

FILE PHOTO: The New York Stock Exchange (NYSE) is seen in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, U.S., April 26, 2020. REUTERS/Jeenah Moon

(Reuters) - The New York Stock Exchange will allow a limited number of market makers to return to its trading floor on Wednesday, nearly three months after closing it due to the coronavirus pandemic.

More designated market makers, who oversee trading in the exchange’s 2,200 listed companies, will be permitted to come back this week, adding to the 25% of participants who returned when the trading floor partially reopened on May 26.

During the latest phase of the reopening, verbal bids and offers will not be allowed, the exchange said on Monday.

The trading floor will continue to operate with reduced headcount and additional safety precautions, it added.

Intercontinental-owned (ICE.N) NYSE closed its floor in March and had moved to electronic trading for the first time in its 228-year history, after one of its employees and a trader tested positive for COVID-19.

Reporting by C Nivedita; Additional reporting by Bharath Manjesh in Bengaluru; Editing by Shounak Dasgupta and Maju Samuel

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