NYSE bidders would preserve trading floor

New York /
Apr.April 26, 2011 09:38 AM

The future of New York Stock Exchange may still be unclear, with both Nasdaq and Intercontinental-Exchange battling for control, but it appears that its landmarked, 219-year-old home is probably safe. According to the New York Times, both bidders have vowed to keep the historic trading floor open, despite a clear shift in the industry towards electronic trading. Robert Greifeld, CEO of the entirely electronic Nasdaq exchange, has previously expressed doubts over whether a physical venue is needed, but now acknowledges “the ceremonial value to listed companies” of being able to list their shares and see their executives ring the opening bell on television. “We will want to keep that aspect of it,” he said. Still, “there is nobody there during the day. The floor is desolate. It is embarrassing how empty it is,” Greifeld said. “You have an empty cavernous building. Now the question is, ‘how do you fill it back up?’” A shareholder vote set for July will ultimately determine the Exchange’s fate. [NYT]


Related Articles

arrow_forward_ios
410 Tenth Avenue (Google Maps, iStock)

Real estate stocks had a big week. But are they still undervalued?

Real estate stocks had a big week. But are they still undervalued?
(iStock)

Real estate stocks end week mixed as virus fears rise and markets fall

Real estate stocks end week mixed as virus fears rise and markets fall
(iStock)

Real estate stocks bounce back amid fresh stimulus hopes

Real estate stocks bounce back amid fresh stimulus hopes
Donald Trump, Federal Reserve Chairman Jerome Powell, Treasury Secretary Steven Mnuchin, and Speaker of the House Rep. Nancy Pelosi (Credit: MANDEL NGAN/AFP, ERIC BARADAT/AFP, Erin Scott-Pool, and Alex Wong, via Getty Images)

Real estate stocks slide as Trump slams door on stimulus

Real estate stocks slide as Trump slams door on stimulus
President Donald Trump (Getty, iStock)

Real estate stocks close higher on jobs report, despite Trump’s Covid diagnosis

Real estate stocks close higher on jobs report, despite Trump’s Covid diagnosis
Daniel Kretinsky (Getty)

Czech billionaire cashes Macy’s shares after less than a month

Czech billionaire cashes Macy’s shares after less than a month
(iStock)

Real estate stocks rally on strong May jobs report

Real estate stocks rally on strong May jobs report
The FTSE Nareit All REITs index rose by 3.68 percent on Tuesday, outpacing the broader markets as the New York Stock Exchange reopened its trading floor following a two-month closure. (Getty; iStock)

REIT stocks rise as NYSE trading floor reopens

REIT stocks rise as NYSE trading floor reopens
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...