Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Official Says 99% Sure Exchange Will Open Wednesday

Details

  • Description

    FBN’s Charlie Gasparino with news that the NYSE will likely open tomorrow.

  • Duration 4:11
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

By tomorrow again trade no trading today the goal still to get up and running tomorrow.

Why aren't they opened today Charlie Gasparino is here to answer that and so much more tally why aren't armed I should -- that I think -- and 99%.

Chance opens smartly since I was told yesterday.

You know why aren't they opened today that's going to be an issue and -- question that the market is gonna ask and should ask all the exchange officials.

Listen here's the bottom line.

Capitals and still goes on who's a big storm take it from me I was on the -- as many ground -- of the storm I lived on -- and one of them live on the east far east side.

And twenty street the East River flooded -- -- twentieth street.

I walked here to work today he you know what you're current right -- -- it was I've never seen the high council cars like partially floating away this -- status who have placed on the -- -- out.

I -- the first avenue kinda creepy postal apocalyptic feel to it.

You hit 42 street you see signs of life it's the other cities coming back this city survived 9/11.

It's gonna -- this it's it's and I understand that but here's the thing about the markets markets -- global.

The you know they're not New York City.

And yes you don't want the people harm's way am not suggesting that but they have computers.

New York Stock Exchange is.

Electronic exchange.

Is located in Chicago.

So it was archipelago it's in Chicago the NASDAQ I believe is look at isn't it it's more -- that.

These things could run down the question is why didn't.

That and in twelve years since 9/11 how far come on I mean today it's shut down think about and this is this is not a small issue the business of capitalism -- the markets IBM's market -- what people think IBM is worth.

Is judged every day.

On the stock market so -- Apple's -- everything major company.

That's capitalist act tells us what our economy is is worth its one -- did you -- trade guess why wasn't the market -- electronically you can figure true you're gonna get to you're gonna -- two versions couldn't -- the exchange people at the New -- I think I think NASDAQ and all those other ones are ready to go right dances and that -- mainly the new York stock should be in here.

Don't commuter hours say listen.

We want to open.

If you dig deep into the New -- actually -- -- really what's going on they'll tell you well you know we were we were already but the firms did not have.

The right -- activity the right sort of systems in place to work on a fully -- platform let me -- some -- some -- -- just let me just -- -- -- -- just firms will tell you something else -- -- tell you.

Their systems have not been tested fully to deal with this that they -- -- estimate maybe after that and we we've lacked confidence that system.

The bottom line is this will what -- who's ever -- that is it's gotta get fixed you cannot have the markets down today's because of the storm.

-- as it is you don't need human beings they didn't.

This is it is an -- where we trade us stocks in milliseconds prime we can do amazing things with technology you know.

Yes I know we need lectures and they have backup generators they -- they're located in Chicago in -- data center in Ramallah dangerous but over the -- -- The market should be up in some fashion in some way for the past two days okay we should not be talking like today check -- -- one -- This and real quick fast to have the other side of -- because Duncan Niederauer sent an email directly to Lawrence and that it works -- us here Fox Business let's put it on the air because it just came in.

Haven't got much detail from Duncan this morning -- -- to say the NYSE reports seem to suggest no problem with the building and he also said that the email that -- testing.

Would be for the firms this morning to test with our got.

If that's needed for tomorrow the electronic platform that -- referenced and they're gonna communicate early today about the exact plans for tomorrow whether it's electronic arts physical for trading because I always say it.

We should point out its electronic and fiscal the new York stock price changes platform lets give the viewers some sort of overview why we're talking about this.

Need we -- if if a stock is traded matched buy and sell it through the New York Stock Exchange it's either matched.

Through the computer known as -- archipelago which is look -- in Chicago.

-- matched on the floor mart okay it's a known as a hybrid system.

The notion that he could just have a a computer is something that the New York Stock Exchange is set for most of stocks trade on the computer we got a hard break right.

Fifteen seconds love you great stop telling us some background.

They'll come back -- go I have to do FOX & Friends are.

Load More