NYSE will re-open Wednesday after Sandy shutdown

It’s the first time since 1888 that the NYSE has remained closed for two consecutive days

By: James Langton
October 30, 2012 October 30, 2012
16:20

U.S. securities markets are looking to get back to work after an unplanned two-day trading interruption caused by Hurricane Sandy.

The New York Stock Exchange (NYSE) said Tuesday it will reopen for regular trading Wednesday after being shut down for two days because of Hurricane Sandy.

Tuesday marked the first time since 1888 that the NYSE remained closed for two consecutive days due to weather. The last time was due to a massive blizzard.

Normal trading operations will commence on 9:30 ET on Wednesday in co-ordination with all U.S. equities, bonds, options and derivatives markets, NYSE said. The NYSE Euronext building and trading floor are fully operational, it added.

Similarly, Nasdaq OMX said that it intends to re-open all of its equity and derivatives exchanges on Oct. 31.

“We are pleased to be able to return to normal trading tomorrow. Our building and systems were not damaged and our people have been working diligently to ensure that we have a smooth opening tomorrow,” said Duncan Niederauer, CEO, of NYSE Euronext.

Meanwhile, CME Group is set to re-open its U.S. equity index futures and options on futures markets Monday at 17:00 CT, and to resume normal trading hours on the trading floor and CME Globex Wednesday.

The CME notes that its interest rate complex reopened for electronic trading on Monday evening, and has since resumed trading on the floor and electronically, observing regular trading hours. Re-opening its equity complex will mean that all CME Group electronic markets will be open during normal trading hours Tuesday evening and Wednesday.

Additionally, the CME says that it will open its New York trading floor, contingent upon New York City lifting the evacuation order for parts of the city that include its NYMEX world headquarters and the New York trading floor.

The Securities Industry and Financial Markets Association (SIFMA) is also recommending that the fixed-income market be open Wednesday, for the trading of U.S. dollar-denominated fixed-income securities including government securities, mortgage- and asset-backed securities, over-the-counter investment-grade and high-yield corporate bonds, municipal bonds and secondary money market trading in bankers’ acceptances, commercial paper and Yankee and Euro certificates of deposit.

with files from The Associated Press