No. I certainly do not think the NYSE should eliminate its physical location and step into a cyberspace environment for the 21st century. It is to be noted that all activities of the NYSE needs to be channelized towards achievement of their Organizational objectives. Often in the process of creating ‘world class technology’, if NYSE cannot fail to realize that the accountability in the physical location is much more than migrating into a complete cyberspace environment.
The availability of advanced information technology has certainly allowed NYSE’s physical trading activities to be done with. Internet technology has miraculously strengthened the global communication channels in the process of globalization as well and so in the world of Capital Markets. However if there arises certain massive technical break-down in the system, then the entire stock exchange market may suffer a huge set-back. It is here where the physical location enables the resuming of the BCP (Business Continuation Plan) in place. The technical hitches can be attended to at the earliest and that in turn shall ensure the smooth operations of the virtual world of cyberspace.
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