Identify Improvements in Progress
The NYSE Merged with Archipelago Holdings, an electronic exchange operator, and 8 months later announced that it has begun closing some of the trading floors.
The First to go is the ‘New Room.’
Why is the owner making the changes
More Trading is done electronically and after the attacks of 9/11 the exchange scrapped ideas to establish a new building next to the current building.
Later opting to take an electronic course the NYSE is poised to increase efficiency and save money on real estate at the same time.
What is the expected impact of the Change
Cost savings, and safer and more efficient trades.
The exchange going electronic will be less susceptible to physical down time.
Is the improvement on Target or a mis-direction
The improvement is on target and will reduce 20% of the existing floor space and expectations are that this will be the first of several transitions to shut down floor space.