To The Members of the NYSE Floor Community

Members of the NYSE Floor Community, this morning’s Opening Bell marked a historic but melancholy moment in these hallowed halls. For the first time in our 228-year history, the New York Stock Exchange opened for trading while the Trading Floor is closed as our nation battles the spread of COVID-19.  

As a group, we have been through a lot. I recall when I first walked onto the Trading Floor 25 years ago and very quickly knew it was a special place. At the time, I did not have a full appreciation for the critical role our financial markets played in fueling the growth of this nation over the prior two centuries. That understanding would come later. What struck me most was the sense of community. The competition among brokers to represent customers’ best interests was fierce, but it was always built on a foundation of trust. 

Our perch from the Trading Floor has given us a front row seat to history, allowing us to see how Americans’ reactions to major events played out in our markets. Like you, I remember those moments vividly. We hunkered down in preparation for hurricanes, snowstorms, and blackouts. Tragically, the morning of 9-11 left our community and building forever changed as we adjusted to a new norm. Watching headlines break on the tape and feeling the immediate response on the Trading Floor is not something you can accurately describe to those who haven’t felt it before. 

 It is also hard to describe just how proud I feel when we welcome U.S. service members to the Trading Floor. It is not lost on us for a moment that we could not provide the critical financial infrastructure we make available every trading day if we did not live in a safe, secure and free country.

 Today, health-care workers are on the front lines, but we all have a part to play in support of their heroic efforts. This particular battle against COVID-19 has required us to redeploy, temporarily closing our Trading Floors to safeguard our community while we keep our markets operating. 

Americans are being challenged and that is reflected in the historic market volatility we continue to experience. Our equities and options Trading Floors have been extraordinarily busy over the past few weeks and their value truly stands out during periods like this. While it is in our nature to jump in and help dampen that volatility, we now need to do it from afar. The NYSE community will rise to this challenge, and when we are comfortable that we can do so safely, we will return to the Floor and the superior level of service we routinely provide to issuers and investors.

We will be in touch regularly to keep you informed as the current situation unfolds, and I look forward to the Opening Bell that will welcome you all back to the NYSE.