Those good people at Reuters report that the stock market is, for now at least, expected to have a normal trading session on Monday despite the arrival of Hurricane Irene in New York.
The New York Stock Exchange, the Nasdaq Stock Market and the alternative BATS venue said they expected to open trading for the week as usual. But with the New York subway system closed down and commuter rail service into the city suspended, the question remains: who will staff Wall Street?
A final decision is expected later on Sunday after regulators, exchange officials and others meet to discuss the storm and market operations. The decision hinges on whether subways are running, the extent of flooding in downtown Manhattan, and power outages, sources familiar with the plan said on Sunday.
The NYSE and broader U.S. marketplace are mostly automated, quietly running out of powerful data centers in New Jersey and elsewhere. Electronic trading is expected to function normally on Monday.
"At this point, though like everybody else we don't have a hotline into the mayor's office, we're a lot more comfortable than we were yesterday when the strength of the storm was an unknown," said Mike Shea, a managing partner and trader with Direct Access Partners LLC in New York….
Read more at http://www.reuters.com/article/2011/08/28/us-irene-wallstreet-idUSTRE77R1UE20110828
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