(AP:NEW YORK) The New York Stock Exchange will close its trading floor Monday as Hurricane Sandy barrels its way up the Northeast, but Big Board trading will continue electronically.
NYSE Euronext said Sunday it is putting in place its contingency plans beginning Monday and will announce later when the trading floor will reopen.
The New York Mercantile Exchange, a commodity futures exchange, also will be shutting on Monday its trading floor which is located in a mandatory evacuation zone. The CME Group, which owns NYMEX, said all electronic markets will open at their regularly scheduled times.
The moves come as Hurricane Sandy causes the shutdown of transportation systems throughout the region. Governor Andrew Cuomo said New York City's subways and buses will shut down Sunday evening. New York City Mayor Michael Bloomberg ordered residents to evacuate some low-lying areas Sunday and said city public schools will close Monday. Continue reading "NYSE to trade electronically Monday, floor is shutdown"