NEW YORK: The coronavirus pandemic has upended US equities trading with unprecedented market volatility and forced bourses like the New York Stock Exchange to close their trading floors, raising questions about the need for such spaces.
Cboe aims to reopen its options trading floor on Jun 1 after acknowledging that some customers were frustrated by the exchange's electronic trading tools and were unable to get the most risky and complex types of orders completed, it said on Friday. "Our position has always been that when our customers tell us that there's no utility in the trading crowd, when brokers provide no service to their customers, the electronic solution will close the trading floor, not Cboe and not its management team," Tilly said.The NYSE is the only US exchange that still operates stock trading floors alongside electronic trading.
"Only time will tell if investors feel the difference in execution of their trades with or without the human interaction on the floor," the study said.
Source: News Formal (newsformal.com)
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