When Atlanta-based Intercontinental Exchange (a.k.a. ICE) said it was acquiring NYSE Euronext, there were reports that the New York Stock Exchange floor trader days are numbered.
In a private video on Vimeo sent to traders last week and viewed by Business Insider, NYSE CEO Duncan Niederaurer says the floor isn’t going anywhere.
“As I’m sure as many of you are, I’m tiring or reading a lot of the articles about the impending doom and demise of the trading floor. So I thought it would be fun to show you a little backstage tour of what’s going on here.”
In the video, Niederaurer gives a glimpse at the work being done on the floor. He showed new renderings of the trading floor room known as “the Garage,” which is currently undergoing renovation. We’ve posted them below.
“Mid to late next year, the two trading rooms that we use for our equities and options businesses here in New York will be completely refurbished with state of the art technology,” he said.
The NYSE CEO said the AMEX options folks will be moving into the Garage, which is located just off the main trading floor room.
“So plenty of work going on here to improve the physical plant of the trading floor. Don’t believe what you read, we’re actually investing in the trading floor, not disinvesting in the trading floor,” Niederaurer added.
These are the architect’s renderings of the trading floor:
Here’s Niederaurer in the Garage: