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New York

NYSE trading down as space needs shrink

Bourse's owners mull a downsizing of exchange's downtown Manhattan operations

NYSE headquarters, 111 Wall Street
NYSE headquarters, 111 Wall Street

The New York Stock Exchange is reducing its workforce in downtown Manhattan and with it, the amount of space it needs.

The exchange operates its trading floor at its iconic 111 Wall Street headquarters, and also leases the adjacent 27-story tower at 20 Broad Street.

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The lease for the latter property is set to expire in 2016.

The owner of the exchange, IntercontinentalExchange Group, is considering moving some operations to its home base in Atlanta, according to Crain’s.

Failing that, the company might reduce its lease from Vornado Realty Trust. The stock exchange’s parent, known as ICE, already sold some if its businesses, including its NYSE Technologies unit, the Journal reported. The exchange is one of several financial and technology firms that have moved operations out of the Financial District recently, along with trading software company Tethys Technology, which relocated to Midtown at the end of 2013. [Crain’s] — Angela Hunt

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Vornado Realty Trust