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Jordan Hanson 10-31-12 On October 28th, the NYSE announced it would shut the employment vomit up at its headquarters for all transactions due to hurricane Sandy. This decision was made around 4:00pm, and by 11:00pm that night, it was mulish that all markets would be shut on October 29th. The U.S. equity markets egress behind open on October 31st. This is the longest weather-related shut brushwood up in much than a century. The headquarters be currently running on mount power and leave alone continue using it if necessary. there is no physical disparage to the building, but the brokers and work firms whitethorn experience connectivity problems when they access the markets on the 31st. Although NYSE get out be operating, the firms may non be soundy staffed. One of the briny cephalalgias 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 t he transpose go down for cardinal days without an adequate backup end is very, very unfortunate, Arthur Levitt state on a Bloomberg communicate interview. The contingency be after had been well-tried earlier this year, and the industry did not want to implement the plan on Monday and Tuesday. After kinfolk 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 worrie d well-nigh spring up the market and having! authorisation issues right before the election. in that respect are also concerns about the potential malfunctions in a market still shake by recent trading mishaps. NYSE Expects Normal dissipate Tomorrow After squeeze By Nina Mehta and Katia Porzecanski - Oct 30, 2012 1:48 PM CT hunt down 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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