Cuttone & Rosenblatt Order Types Unavailable on NYSE

March 23, 2020

Dear Manager,

Please be advised that, effective Monday, March 23, 2020, regular Cuttone and Rosenblatt orders will not work on the NYSE due to their trading floor shutting down.

Starting this day, the exchange will operate in an all-electronic mode without human traders. As a result, traders should use CCG NYSE orders to access the NYSE electronically instead.

–For more information, you can read the NYSE Trading FAQ on TIP–

In additionCuttone offers two routes that will not be affected by this change: they are theCuttone Free destinationand thePINKBULL destination. These two destinations are not handled by floor brokers and will continue to work fine.

All other Cuttone and Rosenblatt routes/destinations will not work as those go to floor brokers.

About the Trading Floor Shutdown

The NYSE’s parent company, Intercontinental Exchange Inc. (ICE) said it was temporarily closing the floor and shifting to all-electronic trading. ICE will continue to monitor events to determine the appropriate time to re-open the NYSE trading floors, calling the move a precautionary measure.

The two individuals who tested positive for coronavirus were denied entry to the NYSE building this week after they failed to pass mandatory screening procedures, and they later tested positive for COVID-19, according to an internal memo circulated to NYSE floor traders on Thursday.

One of them was a “member of the floor trading community”—a term usually used to describe the brokers and traders that work on the floor—and the other was an NYSE employee, said the memo.

Both were last in the NYSE’s building on March 13. The next day, the NYSE carried out a deep-cleaning of the floor, which has continued to operate this week.

The NYSE had initially resisted closing down the floor—a key part of its brand and image—even as other exchanges around the U.S. and abroad had shut their trading floors, and officials had warned against gatherings of large groups of people.

In addition to its main floor, the NYSE will also close two options-trading floors it runs in New York and San Francisco.

Please continue to monitor the news, and watch your inbox for updates as they happen.

Let us know if you have any questions or comments by creating a mojo.

With thanks,

Communications Team

*Remember to visit our PPro8 Wiki and Knowledge Base to learn more.

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