NYSE President on Measures Taken After Halt

NYSE Group President Tom Farley on the exchange’s trading halt due to a technical glitch, simplifying the exchange’s trading platform and the outlook for IPOs.

According to NYSE Group President Tom Farley, “several” measures have been taken to strengthen the trading system after a technology glitch caused nearly a four-hour trading halt.

In an interview with FOX Business Network’s Maria Bartiromo, Farley said the company is hardening their current systems and working with the NASDAQ to make the markets more resilient.

“I feel like we, the New York Stock Exchange, but also the market at large are actually at a better place now a month later than it was on July 8th when we had our mishap,” he said.

Farley said the NYSE today is still relevant and important to traders.

“The New York Stock exchange is the global leader. We are incredibly important, not just to the U.S. economy but the global economy. We are number one globally in the trading of stocks, in capital raising and we have a very significant presence in the psyche of not just the American public but citizens the world over.”