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 that it was 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, will alsio be shutting its trading floor, which is located in a mandatory evacuation zone. CME Group, which owns NYMEX, said all electronic markets will open at their regularl times.
The moves come as Hurricane Sandy causes the shutdown of transportation systems throughout the region. New York City’s subways and buses shut down Sunday evening.
Even if Hurricane Sandy knocks out power for Lower Manhattan, the NYSE can switch to its backup power generators for electricity. The servers that handle the exchange’s transactions are housed in Mahwah, N.J.
Trading has rarely stopped for weather. A blizzard led to a late start and an early close on Jan. 8, 1996, according to the exchange’s parent company, NYSE Euronext. The NYSE shut down on March 27, 1985, for Hurricane Gloria.
Since the Great Depression, the longest suspension in trading at the NYSE occurred after the attacks on the World Trade Center on Sept. 11, 2011, when the exchange closed for four days.
Sandy, a Category 1 hurricane, was expected to hook left toward the mid-Atlantic coast and come ashore late Monday or early Tuesday, most likely in New Jersey, colliding with a wintry storm that was moving in from the west and cold air streaming down from the Arctic.