Trading Markets Shut Down by Hurricane Sandy

By Sari R. Updated on 10/29/2012

Hurricane Sandy is affecting mortgage and financial firms scattered around the East Coast.  NASDAQ just made an announcement that the U.S. Equity and Options markets will not be open today.  This is a reverse decision from the U.S. Equity and Options markets previously deciding to be open today.  The reason cited for the market closing is due to the severe impending weather conditions for the Northeast.

Radian Group (a mortgage insurer) moved its 3Q earnings conference call from Tuesday to Thursday in order to avoid power disruptions.  SIFMA stated that the fixed-income securities markets are currently open but will close at noon before the sweeping of the storm.  The Depository Trust & Clearing Corp (a provider for settlement services for municipal bonds and securities) will keep operations moving until today.  CEO of DTCC, Michael Bodson, claims that ample preparations have been made to provide smooth processing and settlement through the use of out-of-region sites.

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