Cboe to Reopen Trading Floor June 8 and NYSE Brokers Return

(Bloomberg) -- On the same day that the New York Stock Exchange partially reopened its historic trading floor, Cboe Global Markets Inc. announced plans to open the doors to its Chicago site on June 8.

Half of Cboe’s trading floor participants are expected to return to the reconfigured space next month, the exchange operator said Tuesday in a statement. “Rigorous precautionary measures” to limit exposure to the coronavirus include a different layout to allow for social distancing and capacity limits, the wearing of masks and medical screening at entrances.

Activity on the options exchange has been electronic-only since March 16. Cboe Chief Executive Officer Ed Tilly said in the statement that while the platform “continued to function well” in that time, customers want “the unique benefits” of having both electronic and floor trading.

The announcement comes after about 25% of participants returned to the NYSE floor for the first time since March. Governor Andrew Cuomo, who rang the iconic bell to open the stock market, said his administration will now focus on restarting its economic engine, New York City, the only state region still on lockdown.

NYSE’s biggest market makers continue to trade electronically. Brokers who came back to the floor were required to undergo temperature and medical screening, as well as wear masks and stay six feet apart. Both NYSE and Cboe have asked participants to comply with similar requirements, such as avoiding public transportation and staying away from the trading floors if they experience symptoms associated with the coronavirus.

NYSE floor traders had to sign a liability waiver that prevents them from suing the exchange if they’re infected there, according to a report in the Wall Street Journal. That’s fueled tensions between the NYSE and some Wall Street firms, the paper reported.

“That agreement is really focused on wearing your masks, keeping social distancing and committing to take those steps to protect each other, to protect the others on the floor,” NYSE President Stacey Cunningham told CNBC in an interview Tuesday. “Some of the big firms have chosen not to come back just yet, which is fine. No one is compelled to come back, not our employees, not anybody on the trading floor.”

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