Date: September 11, 2020
Audience: NYSE, NYSE AmericanEquities, NYSE American Options, NYSE Arca Equities, NYSE Arca Options, NYSE Chicago, NYSE National, FINRA/NYSE TRF, and Global OTC Traders
Subject: NYSE exchanges to prepare for potential move from New Jersey datacenter, including temporary relocation of NYSE Chicago on September 28
Numerous NYSE member firms have recently reached out to the Exchange to understand our plans should New Jersey institute its proposed tax on financial transactions processed through electronic infrastructure located in the state. They are concerned, as are we, that any tax imposed will be passed through to NYSE members, and ultimately their clients, who are often the very same Main Street investors who reside in states like New Jersey and elsewhere.
NYSE has the ability to operate all of its markets out of either its primary datacenter in Mahwah, New Jersey or an alternate datacenter. Designed for various disaster recovery scenarios, a change in location can be performed in a matter of minutes, if necessary.
If our members express a strong preference to permanently relocate our trading infrastructure out of New Jersey, the process to do this is well-documented, regularly tested and would not cause any disruption to NYSE operations.
To help test and prepare our members for any such action, NYSE will implement two immediate measures:
1. Relocation of production trading for NYSE Chicago the week of September 28: The NYSE will operate one of its equity exchanges, NYSE Chicago, from its secondary datacenter from September 28th to October 2nd. This will confirm the industry’s ability to seamlessly move live trading out of New Jersey.
2. Weekend test of all markets: The NYSE, in coordination with Nasdaq, Cboe, SIFMA and other industry participants, will conduct a test of all its exchanges operating from their secondary locations on Saturday, September 26, 2020. This controlled test will exercise the industry’s preparedness for a potential wholesale transition out of New Jersey. Details for the weekend test will follow in a separate announcement.
No comments:
Post a Comment