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Virus shutdown casts doubt on value of exchange trading floors

The new data casts fresh doubt on the value of old-fashioned trading floors, just as exchanges are moving to reopen them

Investors won’t necessarily benefit when the New York Stock Exchange and other market operators welcome traders back to their closed floors, new research suggests.

An academic study released  on 21 May found that NYSE’s crucial 4 p.m. auctions, which determine end-of-day prices for thousands of stocks, ran more smoothly after the Big Board closed its floor to curtail the spread of the coronavirus. NYSE has questioned the study’s conclusions.

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