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With a single physical floor where traders meet to negotiate stock prices, the exchange can be disrupted more easily than computer-based markets like Nasdaq.
Even before Sept. 11, the exchange's physical floor faced criticism within the industry as an anachronism that benefited the Big Board's members at the expense of other traders and investors.
While the New York Stock Exchange currently plans to be back in business on Wednesday, it may have to rely entirely on electronic trading, the exchange said late Monday, adding that the physical floor had not been damaged by the storm.
Such a format has the potential to open the physical floor and all the bidding hype that comes with it to a much wider audience, and with that raising the bids for items on the block.
Steil notes the exchange remains owned by its members and that its allegiance to the physical floor has more to do with their income than any devotion to its system.
Moscow's flagship Topshop store recently teamed up with local augmented reality developer AR Door, to bring a virtual dressing room onto the physical floor of their store.
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When the daily interactions of human traders on a physical trading floor is replaced by computers, how do you know what the market is really thinking?
The New York Stock Exchange had previously planned on closing only its physical trading floor, while allowing for trading on its Arca electronic exchange.
The CME Group, which operates the Nymex commodities exchange, said it would halt trading on its physical commodities floor and on its electronic stock futures and options exchanges.
The exchange had planned to stay open electronically while closing its physical trading floor, but with the city going into emergency mode on Sunday night, the N.Y.S.E.
Recent advances in manufacturing industry has paved way for a systematical deployment of Cyber-Physical Systems (CPS), within which information from all related perspectives is closely monitored and synchronized between the physical factory floor and the cyber computational space.
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