Major US Exchanges Closed Tuesday for President Ford’s Death

The New York Stock Exchange and the Nasdaq will be shut down January 2 for a national day of mourning for the death of former President Gerald Ford, but The Depository Trust&Clearing Corporation (DTCC) said it would still clear and settle trades from earlier market activity.
According to Reuters, closing the markets for a national day of mourning for the death of a US president is not an extraordinary decision, but this time the closing on Tuesday will mean stock trading will be suspended for four consecutive days.

The DTCC and its subsidiaries said they would remain open Tuesday, and will process maturing money market instruments and follow normal allocation procedures for any periodic principal, dividend and interest payments due that day.

Reuters also reported that the US Securities and Exchange Commission’s Web-based electronic filing system, EDGAR, will not be operating on Tuesday.

According to Reuters, the Securities and Financial Markets Association (SIFMA) recommended that the bond market close early, at 2 p.m. EST, and the US Treasury said noncompetitive bids would close at 11 a.m. EST on January 2 and competitive bids at 11:30 a.m.

The operations of smaller markets on January 2 are as follows:
  • International Securities Exchange: Closed
  • Chicago Board Exchange: Closed
  • American Stock Exchange: Closed
  • New York Board of Trade: Closed
  • Philadelphia Stock Exchange: Closed
  • Chicago Mercantile Exchange’s commodity and equity index markets: Closed
  • Chicago Mercantile Exchange’s foreign exchange and interest rate markets: Open until 1 p.m.
  • Chicago Board of Trade: Close its agricultural markets, but overnight electronic agricultural markets will trade as normal, opening at 6:30 p.m.
  • The Chicago Board of Trade: Open CST Monday, and close at 6 a.m. CST on Tuesday
  • The New York Mercantile Exchange: Close its NYMEX and COMEX division trading floors, but electronic trading will remain open.