NYSE considers shutdown as Irene targets New York

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Hurricane Irene, forecast to reach New York this weekend, has the potential to shut down the New York Stock Exchange, a company executive said.

“If we can open here but none of our customers can get to their desks, it really doesn’t make a lot of sense to open the exchange,” Louis Pastina, senior vice president for NYSE Euronext, said in a Bloomberg Television interview. “We’ll have to gauge that in coordination with the Securities and Exchange Commission, the other stock exchanges and our member firms.”

Full story: NYSE weighs shutdown options as Irene risk closes subways