NYSE Testing Hurricane Contingency Plan

And denies reports that the exchange had flooded overnight
By Evann Gastaldo,  Newser Staff
Posted Oct 30, 2012 10:33 AM CDT
The floor of the New York Stock Exchange is empty of traders, Monday, Oct. 29, 2012, in New York.   (AP Photo/Richard Drew)

(Newser) – As the New York Stock Exchange remains closed for a second day today, US stock exchange operators are testing a new “precautionary” contingency strategy this morning with an eye toward restarting trading again this week. The plan involves the NYSE and the smaller NYSE MKT staying closed, as the electronic NYSE Arca platform handles opening and closing auctions, the Wall Street Journal reports.

"NYSE Arca should be considered the primary market in this scenario," exchange officials said in a notice, and NYSE-listed securities trading will take place on the Arca exchange. Meanwhile, NYSE Euronext officials disputed reports that flooding hit its Manhattan headquarters, though there is a backup plan in place should that happen. "We stress that, as of now, there has been no damage to the NYSE Euronext NYC headquarters that would impair trading floor operations," the notice reads.

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