Mar 11, 2020 - Economy

Barclays, BlackRock and Morgan Stanley traders catch coronavirus

Dion Rabouin

Illustration of briefcase with Coronavirus ball and chain. — Illustration: Eniola Odetunde/Axios

BlackRock, Morgan Stanley and Barclays have all undertaken "deep cleaning" procedures at various offices in the New York City area after traders at the firms tested positive for COVID-19.

What they're saying: BlackRock and Barclays said an infected person worked in their respective offices in Manhattan, while the Morgan Stanley employee worked at the company's purchase office.

What's next: Following the media reports from Bloomberg, Reuters, and CNBC, employees at other financial institutions told Axios that some employees have been told to work from home, but the trading staff is still being asked to come into the office.

Trading on the floor is still a necessity for many banks because of the required high-speed technology and tight regulatory oversight. But some, including JPMorgan and Bank of America, have been working to set up contingency plans, Reuters' Imani Moise reported.

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Barclays, BlackRock and Morgan Stanley traders catch coronavirus

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