Monday, March 11, 2013

No humans required! NYSE prepares disaster back-up plan to operate without traders

The New York Stock Exchange is readying plans to be able to operate without human traders in case another disaster, such as Superstorm Sandy, forces the shutdown of its historic trading floor in downtown Manhattan.

NYSE Euronext (NYX.N) is preparing to submit details of the plan to the U.S. Securities and Exchange Commission, according to the report, which cited people involved in the preparations.

If activated, the plan would represent the first time the 221-year-old exchange would rely entirely on computer systems, without the oversight of floor-based traders, the paper said.

Sounds like a grand Plan!!....Especially since our governments are trying to drum it into our heads that Hacking is at a all-time high!....Who will they blame when Billions suddenly vanish?