Nasdaq to continue operating electronic markets, to shut PHLX options floor trading on March 17

MARKET PULSE

Nasdaq Inc. (ndaq) said Sunday that all of its electronic equities, options and fixed income market will remain operating, but said the Nasdaq PHLX Options Market floor trading in Philadelphia will “temporarily” close on March 17 “until further notice” in response to the COVID-19 pandemic. The exchange said all options trading will transition to electronic-only trading. The company said initial public offerings and new listings can continue as scheduled. Nasdaq opening and closing bell ceremonies will continue, with reduced staffing and attendees. The North America staff will continue to operate via a combination of work-from-home, split-teams and rotating staff schedules, until further notice. Nasdaq’s stock has lost 17.3% over the past three months through Friday, while the S&P 500 (spx) has dropped 19.8%.