Financial Traders Are Getting Their Coronavirus Test
Banks have been doing trial runs of remote working, but there are still questions about how this will work without making systems vulnerable.
Time to work from home?
Photo: BloombergEfforts to contain the spread of the novel Coronavirus are prompting a slowdown that poses the biggest danger to the world economy since the financial crisis, according to the OECD. Stocks last week suffered their biggest selloff since 2008. But the market dislocations aren’t the only virus perils to rattle Wall Street’s traders and their colleagues in overseas financial hubs.
Grappling with an outbreak that could become a global pandemic is adding unprecedented complexity to the day-to-day running of banking institutions that are vital to facilitating the exchange of financial assets.