The Living Markets

Financial firms empty out as coronavirus cases mount

The Swiss stock exchange operator today joined a growing number of financial institutions segregating employees as the industry braces for disruption from the rapidly spreading coronavirus. UBS and Credit Suisse took similar action.

Starting Monday, all SIX teams operating critical platforms, applications and services will be split into at least two locations, a person with knowledge of the matter said. For example, half will continue to come to the office while the other 50 percent will work either from home, in a different building, or even a different city.

The split teams have been told not to meet under any circumstances, including privately, the person said. That includes not visiting company-linked fitness centers or other shared facilities abroad.

Banks in Europe and on Wall Street are activating crisis plans as the virus spreads to more financial centers. For many lenders, it’s their first widescale experience with working from home and serves as an important test of…

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