What will happen if the stock market is closed due to corona virus?

stock market is closed due to corona virus
The New York Stock Exchange is preparing to trade at a full dimension when it is closed.
 The New York Stock Exchange announced the closing of the trading floor on March 23.
 I tested an electronic plan of action.
 Its last closure in 2012 was due to Hurricane Sandy.
With the spread of the Corona virus, global economies rushed to take cover effectively, which led to the cancellation of travel, live events, public gatherings, etc., and questions raised the necessity of closing global exchanges until the New York Stock Exchange announced on March 18 that it closed the trading floor on March 23 due to the spread of the Corona virus .
Closing an actual stock exchange like the New York Stock Exchange is currently a less challenging challenge compared to the previous decade, given that most exchanges and their trading are now fully electronic to market makers or liquidity providers via computers and mobile devices.
The New York Stock Exchange has a plan to continue its operations in the event that it is forced to close the famous trading floor on Wall Street in downtown New York, and a spokesman said that the exchange carefully monitors the spread of the Corona virus and has a strong contingency plan that is regularly tested to continue the work of the exchange in the event of any emergency.
According to Reuters, which received an internal note from the New York Stock Exchange, the exchange has taken concrete measures to reduce the potential spread of the virus. These measures included imposing separate entrances and dining areas for its traders and employees, minimizing inactive visitors to the minimum, and thorough cleaning of the facility.
Another memo explains to traders the continuity plan if the stock market closes its doors. Here are some of the main contents of the memo:
Market makers are charged with implementing auctions electronically.
The stock exchange carries out auctions on their behalf in case they are unable to do so.
The stock market or direct listings are not released while the stock market is closed.
Electronic exchanges will operate normally, including the American Stock Exchange, the Chicago Stock Exchange and the National Stock Exchange if the facility is closed on Wall Street.
The New York Stock Exchange was forced to close last time in 2012 for two days in anticipation of the sandstorm Sandy that flooded the Manhattan region at that time, and the Stock Exchange recently tested the market makers’ supervision of stock auctions remotely by contacting stock exchange systems, which was never tried during normal market operations .
The New York Stock Exchange was closed several times over the years, as it closed in 1914 for four months after the outbreak of World War I, after the death of President John Kennedy in November 1963 and for four days after the September 11 attacks.
What will happen if the stock market is closed because of the Corona virus – cancellation of travel, live events, public gatherings and others – the effects of the virus on the global economy
The New York Stock Exchange sees human beings as the basis of its operations despite the lack of traders and market makers compared to the past decade or earlier, and it said on its website:
“Although all of our markets operate electronically using highly sophisticated technologies, there is nothing to compensate for the presence of humans. This human contact helps ensure our strength, create orderly opening and closing, reduce volatility, increase liquidity, and improve prices. We have maintained our steadfast commitment to stronger and more organized financial markets for more than two hundred years and we intend to maintain this tradition in the next two hundred years. ”
According to the New York Stock Exchange, humans perform the following functions:
1. Market makers
Market makers – formerly known as specialists – maintain fair and regulated markets for their assigned securities, and operate both manually and electronically to facilitate price discovery while markets open and close and during periods of major trade imbalance or instability.
2. Stockbrokers
Brokers, who are employees of member companies, carry out trading operations on the stock exchange on behalf of the company’s clients, act as agents, buy and sell shares to the public (institutions, financial reserve funds and traders). Brokers are in the trading floor and participate in the opening and closing auctions on the New York Stock Exchange as well as the length of the trading day.
The Chicago Mercantile Exchange announced the close of physical trading from the date of 19 March, with electronic trading continuing until further notice.

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