Sanjayssz Dono

Jordan Hanson
10-31-12

On October 28th, the NYSE announced it would shut the employment ditch at its headquarters for all transactions due to hurricane Sandy. This finality was made around 4:00pm, and by 11:00pm that night, it was immovable that all markets would be shut on October 29th. The U.S. equity markets leave behind open on October 31st. This is the longest weather-related shut brush up in much than a century. The headquarters be currently running on backup power and will continue using it if necessary. there is no physical damage to the building, but the brokers and trading firms whitethorn experience connectivity problems when they access the markets on the 31st. Although NYSE will be operating, the firms may not be soundy staffed.
One of the briny concerns is the reputation this will put on the NYSE. People face to the New York Stock Exchange as being the symbolic representation of American capitalism, and to see the exchange go down for cardinal days without an adequate backup end is very, very unfortunate, Arthur Levitt state on a Bloomberg Radio interview. The contingency plan had been well-tried earlier this year, and the industry did not want to implement the plan on Monday and Tuesday. After September 11, 2001, trading was canceled for four days. When the markets reopened, the mensuration & Poors 500 Index went down 4.9 percent.



This is obviously a concern right now as well.
NYSEs plan is to switch floor trading to Arca, NYSEs electronic market, and this has been a concern. Some are worried well-nigh opening up the market and having authorisation issues right before the election. There are also concerns about the potential malfunctions in a market still shake by recent trading mishaps.
NYSE Expects Normal dissipate Tomorrow After Storm
By Nina Mehta and Katia Porzecanski - Oct 30, 2012 1:48 PM CT
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Hurricane Sandy Leaves NYC a Ghost Town
U.S. equity markets will reopen tomorrow after the longest weather-related shutdown in more than a century, resuming after the New...



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