Tuesday, October 30, 2012

The struggle over closing Wall Street

After two days of heated discussions, the NYSE faced a choice: use an unproven system to keep the markets open while risking employees' safety, or close for the day and play it safe.

At 6:30 p.m. on Sunday night, with Hurricane Sandy bearing down on the U.S. East Coast, New York Stock Exchange operator NYSE Euronext had more immediate problems: a revolt from the trading firms that are its lifeblood.