October 30, 2012

Exchange operator Nasdaq OMX said on its website that it expects its U.S. trading venues to reopen tomorrow as the storm-ravaged New York City metropolitan area continues its recovery from Hurricane Sandy.

NYSE Euronext also said it intends to re-open its markets Wednesday if conditions permit it. The exchange operator is devising a contingency plan if the New York Stock Exchange headquarters and trading floor are still unavailable tomorrow, according to media reports. Should that happen, trading on NYSE-listed securities is expected to shift to the Arca exchange.

Earlier on Tuesday, Fidelity Investments told its retail customers it expects the markets to be open for normal trading Wednesday. "U.S. markets are expected to open normally on Wednesday October 31," Fidelity told customers on its brokerage website. "Orders entered since 4:00 p.m. EST Friday October 26 will be eligible for execution when trading resumes."

The severe weather Monday resulted in the first multiday shutdown of U.S. stock trading since 1888, when a blizzard blanketed New York with 21 inches of snow. Commuting remains a problem in New York's five boroughs, and city officials said it remains unclear when the system would reopen.

ABOUT THE AUTHOR
As the Senior Editor of Advanced Trading, Justin Grant plays a key role in steering the magazine's coverage of the latest issues affecting the buy-side trading community. Since joining Advanced ...