The decision to partially reopen the NYSE floor on May 26 involved a complicated stew of business, legal and medical issues that many businesses throughout the U.S. will be facing — particularly those where people are required to collaborate in in person.
In the partial reopening, only about 80 floor brokers will be present, about 25% of the number prior to the coronavirus pandemic.
Everyone entering will be required to take a temperature test and sign a legal document stating they understand the risks, will follow the rules, and indemnify the NYSE against lawsuits. It also does not allow anyone entering the building to have arrived using public transportation, an issue since the vast majority of those who work at the NYSE take public transportation.
"When you add the trading floor in, you see much larger bids and offers, and so it makes those [closing] auctions even more efficient," NYSE President Stacey Cunningham said on our air this morning, explaining why she wants the floor brokers back. As for the medical issue, the NYSE is only requiring a temperature test — not a coronavirus test — as a condition of entering the building, despite the fact that the temperature testing will not pick up the significant number of people who contract coronavirus but are asymptomatic.
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