Sandy Current Event

Jordan Hanson 10-31-12 On October 28th, the NYSE announced it would shut the transaction decimal point at its headquarters for all transactions due to hurricane sandlike. This stand up was made around 4:00pm, and by 11:00pm that night, it was unconquerable that all markets would be shut on October 29th. The U.S. equity markets get out open up on October 31st. This is the longest weather-related shut glisten in more than than a century. The headquarters be presently running on backup power and will reside using it if necessary. on that point is no physical ravish to the building, but the brokers and business firms whitethorn experience connectivity problems when they access the markets on the 31st. Although NYSE will be operating, the firms may not be ripey staffed. One of the main frights is the reputation this will put on the NYSE. People picture to the New York Stock Exchange as being the sign of American capitalism, and to see the exchang e go down for two days without an adequate backup figure is very, very unfortunate, Arthur Levitt say on a Bloomberg Radio interview. The happening contrive had been tried and true earlier this year, and the industry did not want to implement the plan on Monday and Tuesday. After kinsfolk 11, 2001, trading was canceled for four days. When the markets opened, the meter & 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 most opening move up the market and having strength issues righ! t before the election. there are also concerns about the potential malfunctions in a market still jolted by recent trading mishaps. NYSE Expects Normal open(a) Tomorrow After Storm By Nina Mehta and Katia Porzecanski - Oct 30, 2012 1:48 PM CT Play 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...If you want to get a right essay, order it on our website: OrderCustomPaper.com

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