U.S. financial markets will be closed again on Tuesday Oct. 30 due to the effects of Hurricane Sandy, the major exchanges have announced.
Both NYSE Euronext and Nasdaq OMX confirmed that traders will have another day off Tuesday, and the exchanges will likely re-open on Wednesday, October 31.
NYSE said that, in consultation with other exchanges and market participants, it will close its markets in co-ordination with all U.S. equities, bonds, options and derivatives markets Tuesday. It will provide updates tomorrow on plans to re-open on Wednesday.
Nasdaq, which will also be shuttered for the storm again Tuesday, said it continues to monitor the situation, and currently expects its markets to be open as normal on Wednesday.
Additionally, the Securities Industry and Financial Markets Association (SIFMA) is recommending a full market close on Tuesday for U.S. dollar-denominated fixed-income securities, including trading in Tokyo and London; but said that primary dealers will need to determine if they intend to provide limited staffing on funding desks on in order to accommodate any potential open-market operations by the U.S. Federal Reserve Bank of New York.
SIFMA’s recommendations apply to trading of U.S. dollar-denominated 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. However, it stresses that these are only recommendations, and that each firm should decide for itself whether its fixed-income departments remain open for trading.