New York stock exchanges to reopen on Wednesday after two day shutdown
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Version 0 of 1. The New York Stock Exchange has decided after two days of shutdown due to Hurricane Sandy, which left parts of the city flooded and without power, to reopen tomorrow. As the cleanup operation begins in earnest, traders will return to the floor, which has survived intact, to start making some money. Expect transactions to be lower than usual, as the flooding damaged a number of downtown Manhattan servers, including some which run algorithm computer systems, buying and selling shares in micro seconds. The computer trading means the average stock is held for just 22 seconds and accounts for 75% of all trades. That may be lower tomorrow. In a statment, NYSE said: <blockquote>NYSE Euronext (NYX) will open for normal trading operations in coordination with all U.S. equities, bonds, options and derivatives markets on Wednesday, Oct. 31, 2012. Trading will commence on the New York Stock Exchange at 9:30am under normal opening procedures, and the NYSE Euronext building and trading floor are fully operational.<br /><br />Duncan Niederauer, CEO, NYSE Euronext said: "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. Our thoughts and prayers remain with the families and communities suffering in the wake of this terrible natural disaster."</blockquote> |