In a somewhat shocking sounding move, given administration officials' ongoing effort to calm the public fears over the spread of Covid-19, The New York Stock Exchange has announced it will commence disaster-recovery testing in its Cermak Data Center on March 7 amid coronavirus concern, Fox Business reports in a tweet, citing the exchange.
“During this test, NYSE will facilitate electronic Core Open and Closing Auctions as if the 11 Wall Street trading floor were unavailable,” Fox says.
To reiterate, the disaster recovery plan is to check the process that would occur if Covid-19 'public distancing' proposals come into effect and effectively shut the trading floor?!
The test is reported to occur March 7 between 8:30 am-11 am.
Remember, do not panic!