Despite damage from Hurricane Irene in some areas in New York, the U.S. exchanges are set to open on schedule on Monday in time for normal trading session opening hours for most exchanges like the New York Stock exchange and Nasdaq, and NYEMX, although ICE (the Intercontinental Exchange) said Monday openings for some U.S. futures products will be delayed by one hour. Also the alternative trading venue, BATS , announced they will start the week as normal.
Trading volume is expected to be lower with lighter staffing with commuter issues and should also foresee maybe some delays in opening.
Even though New York subway service resumed at 6 a.m. on Monday New York time, some Metro-North commuter rail service was still closed, stranding many who normally commute in from Connecticut and New York suburbs into the financial district and Wall Street.
On early Sunday afternoon exchange regulators and exchange officials convened and came to a decision to open the stock market on Monday as normal. The U.S. bond market will also operate as normal on Monday, the Securities Industry and Financial Markets Association said.
The NYSE and broader U.S. marketplace are mostly automated, running quietly out of powerful data centers in New Jersey and elsewhere. Electronic trading is expected to function normally on Monday. But without full staffing, volume will take a hit.
On Sunday hurricane Irene which battered New York with forceful winds and pounding rain knocked out power in some areas of lower Manhattan and the Wall Street district and caused heavy flooding. The hurricane has now been downgraded to a tropical storm.