Advertisement

Coronavirus: CME Group To Stop Trading As COVID-19 is Declared Pandemic

Coronavirus: CME Group To Stop Trading As COVID-19 is Declared Pandemic
  • Yesterday it was announced by the World Health Organisation that coronavirus has been recognised as a global pandemic. 
  • Now it has been registered as a pandemic, many crypto companies are making changes to the way they do business in the industry.

Yesterday it was announced by the World Health Organisation that the ever worrying disease of the coronavirus has been officially recognised as a global pandemic. Now it has been officially registered as a pandemic, many cryptocurrency companies and organisations are making changes to the way they do business in the industry.

According to a report published earlier this week by CNBC, the Chicago Mercantile Exchange Group (CME) is going to suspend its trading in the state from the 13th of March this week.

The company have highlighted that the need for caution is evident now more than ever. Due to the decision to officially register the coronavirus as a pandemic, the exchange felt it was necessary to suspend its trading. Financial markets all across the United States have seen a significant impact in its trading because of the outbreak.

As one of the biggest financial derivatives platforms in the world, CME trades in several industries such as agricultural products, interest rates, metals, fiat and of course, cryptocurrency. In regards to the new precautions made by the company, the group have said the following:

"No coronavirus cases have been reported on the trading floor or in the Chicago Board of Trade building. The reopening of the trading floor will be evaluated as more medical guidance on the coronavirus becomes available."

The outbreak of coronavirus has seen a significant impact throughout the world in many different industries. This isn’t just limited to cryptocurrency, many events all across the globe have been postponed or cancelled due to the outbreak. Even the new James Bond film, No Time to Die has been delayed until November. For holidaymakers, the timing couldn’t be worse as many people will be expecting to go on a lovely summer holiday with their family or friends which is now looking sketchy.

When it comes to the New York Stock Exchange though, no plans have been announced to close the trading floor. In the city, more than 200 confirmed cases of COVID-19 have been found.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

You can share this post!

Advertisement