“The most important thing is that it raise the exchange, that is symbolically:” for Peter Tuchman, a trader on Wall Street, the reopening Tuesday of the floor of the New York Stock Exchange after several weeks of closure related to the pandemic, is an essential step.
“Investors (…) have felt our absence on the floor, and the confidence that it inspires in everyone, to see this human entity “, he says from his home in an interview with the AFP.
In the Face of the rapid spread to New York of the disease COVID-19, the New York Stock Exchange had decided to close on march 23, the room where brokers are agitated usually to buy and sell shares between various stations, topped by screens displaying the prices of the companies listed in the United States.
Mr. Tuchman, a trader with Quattro Securities 62 years old and known for his very expressive face and his hair giving him an air of Albert Einstein on innumerable photographs illustrating the articles on the activity on Wall Street, is himself fell ill.
“I am now in remission, I’ve spent the most hard (…). The virus has unfortunately done damage to my lungs (…) this is why I have a hoarse voice. But there is hope that it will go away, ” he says, claiming not to have caught the virus on the floor.
It will not return itself Tuesday in the hall of the mythical building of Wall Street.
Approximately 80 brokers only, working mainly for small companies not being able to work remotely, are permitted in a first time to come back.
The levels of the markets, whose primary role is to ensure that the shares can be sold and bought quickly, should stay at home until a gradual return to normal.
The port of the mask and the outlet temperature are mandatory for those in attendance. In addition to the partitions of plexiglass, traders will have to comply with the safety distances and follow paths pre-determined time on the floor.
He is also asked not to take public transport in order to limit the sources of contamination.
“We reboot cautiously, with new security measures intended to reduce the pressure on the health system and the risks for those who work under our roof “, stressed in a message to the head of the NYSE, Stacey Cunningham.
The city of New York, the economic capital of the country and metropolis most affected by the COVID-19, continues to impose the containment to businesses until at least June. But the financial industry is considered as an essential activity.
To mark the event, the governor of the State of New York Andrew Cuomo will ring him-even the bell marking the opening of the session. He will hold his daily press conference from the room of the board of directors of the NYSE.
The floor of the NYSE with the stock Exchanges of Chicago of the CME and the Cboe, or the metal market of London, among the latest financial centres in the world where dealers are physically present to buy or sell securities.
These are, however, much less numerous than in the heyday of the frantic activity of Wall Street, the very great majority of trade is doing now since the computers of the market rooms of each financial company.
But the NYSE is regularly argued that the presence of humans improves certain key moments of the life market, including the latest minutes of the meeting or the arrival in Stock of new companies.
To Mr. Tuchman, it is essential to ” demonstrate to customers, investors, it is ready to go back on the floor, and to participate in the re-opening of the economy, the markets and the world. ”
“To be clear, the pandemic is not over,” he adds however. “All this re-opening means, is that there are a few beds free in the intensive care units. ”
Lack of ” user’s manual for the re-opening “, ” we hope that the market will remain strong and that the economy will catch up the market “, which has rebounded strongly since march, despite the economic impact devastating pandemic, ” he said.