New York Stock Exchange strictly prohibits gambling while sending shock waves in the community. Now traders will need to watch their backs.
The recent financial crisis is attributed to irresponsible financial sector gambling with people’s fortunes. But, who would think the Wall Street’s icon, the New York Stock Exchange (NYSE) would strictly ban its members from gambling? Even asking it is shocking news, but true.
According to American gambling laws, a new NYSE regulation bans any gambling, taking aside stock trading.
No more gambling on the stock exchange’s floor
This ban affects the use of computers and communication devices to gamble on the floor of one of the world’s largest stock exchanges.
Moreover, the traders will not be allowed to even show a betting slip unless they’re betting on the multitude of stocks, bonds, and options bought and sold there. The closest they’ll get to gambling is by trading casino shares.
As reported, NYSE on numerous occasions sent reports asking not to gamble, which were ignored. This time, however, the Exchange will crack down on hidden gambling, sports betting or other games of chance.