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UPDATE: NYSE CEO Duncan Niederauer was just talking on CNBC from the floor of the exchange.Niederauer told CNBC reporter Bob Pisani that the NYSE is taking measures to mitigate the phone and internet service issues:
Cell phone usage is pretty spotty for all of us down here in lower Manhattan right now. Also, some of the internet connections are kind of slow, so if people use that for some of their data feeds, that’s slow.
So, we’ve actually been giving each of the brokers one of our own lines so they can get incoming and make outgoing calls if they have a phone issue.
Some people’s Blackberrys aren’t working. Depending on your internet service provider, you’ve got internet. So, I think we’re trying to cover them with as much phone and data help as we can to help them run their business from down here.
Then, I’ll give you guys another update after the opening.
ORIGINAL: Bloomberg TV reporter Alix Steel was just down at the NYSE, and she said that although the floor is open today, traders will still face a nasty inconvenience left over from Hurricane Sandy:
I was just inside the New York Stock Exchange. Traders are trickling in from everywhere from Long Island to New Jersey.
But the real problem is right now there is no Verizon service or wifi in the exchange. The exchange itself is up and running, but the guys are basically trading blind. Their Bloomberg terminals are down. They don’t have internet access. One trader told me there’s not going to be that much action going on down on the floor today.
Steel noted, however, that this is the last day of the month, and traders are saying there should be some volatility as big funds rebalance their portfolios and log monthly gains (or losses).
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