Terrorist Attack on World Trade Center NY

Status
Not open for further replies.
INSTINET CLEARING SERVICES, INC.
REUTERS C CORPORATION
INSTINET CORPORATION
INSTINET FIXED INCOME INC.
INSTINET.COM CORPORATION

NASD Member Firm INSTINET CLEARING SERVICES, INC.
Applicant Name on Form BD INSTINET CLEARING SERVICES, INC.
Prior Business Names INC TRADING CORPORATION
Business Phone Number (212) 310-9500
Main Office Located in NASD District: 10-New York
Main Office Address ONE WORLD TRADE CENTER <---------
NEW YORK, NY 10048
Mailing Address THREE TIMES SQUARE
NEW YORK, NY 10036
 
This being a major damper on US economics, perhaps its an interesting time to request the reversal of the SEC rule that begins on September 28. Its a bad rule to begin with, and maybe such pessimism and downtrends will make the SEC see how wrong it is. I think we should make our voices heard.
 
09/11 16:19 Bloomberg

U.S. Markets' Shutdown Will Extend Through Tomorrow, NYSE Says
By Philip Boroff


New York, Sept. 11 (Bloomberg) -- U.S. stock markets will remain shut tomorrow after the destruction of the World Trade Center in lower Manhattan in the worst terrorist attack in U.S. history.

The NYSE said in a statement that it, the Nasdaq Stock Market and American Stock Exchange will announce tomorrow when they will reopen.

The last time the New York Stock Exchange, less than a half- mile from the site of the twin towers, shut for more than a day was March 1933 during a ``bank holiday.'' That was intended to prevent a rash of withdrawals during the Great Depression, the NYSE web site says.

Today, bond trading came to a standstill, with 30-year bond prices unchanged since 10:19 a.m. Cantor Fitzgerald LP, which trades about one-quarter of the U.S. government bond market, was headquartered on the 32nd floor of 1 World Trade Center.

The Bond Market Association recommended closing the market indefinitely ``until we've had a chance to contact our members, consult with them, assess the situation, and be able to make further recommendations,'' spokesman Michael Dorfsman said.

Explosion

U.S. markets didn't open today and offices in lower Manhattan -- and throughout the city and nation -- were evacuated. Thousands of people streamed out of buildings and walked North along the East Side and West Side highways, many covered in white and gray soot. About 40,000 people worked in the World Trade Center.

Before the twin towers collapsed -- one toppled at 10 a.m., the second at 10:28 a.m. -- witnesses saw bodies flying out of the windows. ``I will never get rid of that sight,'' said Tom Russo, Lehman Brothers Holdings Inc.'s chief legal officer.

When the towers fell, the billowing smoke and dust turned day into night for several minutes. Throughout Manhattan people were seen lining up at Automated Teller Machines, supermarkets and pay telephones.

American Express Co. and Lehman Brothers employees evacuated their headquarters at the World Financial Center, across the street from the World Trade Center. All staff at Credit Suisse First Boston at 5 World Trade were safely evacuated, according to a firm memo distributed to staff.

Some 150,000 to 200,000 people pass through the complex on a typical weekday, including 40,000 who work there and 50,000 taking the PATH trains that connect New York and New Jersey, according to the Port Authority of New York and New Jersey.

Morgan Stanley Dean Witter & Co. established an emergency telephone number for employees of the firm and their families to call for information regarding staff, a spokeswoman said.

The number is 1-888-883-4391.

When asked if Morgan Stanley knew if the employees who work at 2 World Trade Center -- which housed its brokerage and asset management divisions -- had been evacuated, Judy Hitchen, a spokeswoman, said, ``We have no idea.''

Trading Suspended

The attack will likely result in the worst losses from a man- made disaster in the U.S., insurance analysts say. The World Trade Center's worth was evaluated at $1.2 billion this year by property broker CB Richard Ellis. Taking damage to neighboring buildings into account, losses may exceed $2 billion, analysts said.

Trading in futures and options linked to Treasuries and interest rates at the Chicago Board of Trade continued uninterrupted, though trading in Dow Jones Industrial Average futures has been suspended, said CBOT spokeswoman Maria Gemske.

The New York Mercantile Exchange, an exchange a block from the WTC that trades crude oil and gold futures and options, didn't open for trading.

The Coffee, Sugar & Cocoa Exchange in New York, at 4 World Trade Center, trades about $135 million a day in cocoa futures, $165 million a day in sugar futures and $215 million a day in coffee futures. The exchange will be closed at least until Monday.

As for the broader markets, ``I'd hope the markets would reopen as quickly as possible,'' said former Securities and Exchange Chairman Arthur Levitt. ``It depends on whether people can come to work. The worst thing you can do as far as terrorists are concerned would be to give in to them.''

Bloomberg
 
where will they re-open ? The exchange now is sadly gone !!!
I am sure (or hope) most could get out but having a external
floor or place to conduct business would be nice.
 
the exchange isn't gone andras...there are 7 buildings of the WTC...as of 9:15pm est the merc is still standing
i trained at Dean witter 3years ago...64th floor...my prayers go out to everyone there...
even though we are professional traders and need to make profits, take a minute to remember those we have lost
 
I agree with the others, I would prefer to see the mkt closed for the rest of the week and have the following days as time to reflect. The world needs to let this tragedy sink in. Most people are in total and absolute shock. In that state, they will not be making rational decisions.
 
Hitman, I am relieved to hear that you were not located in the area of the attack.

On markets:
In a perverse way, the terrorism could actually result in an accentuated decline in the markets to capitulation levels, resulting in a quicker than anticipated recovery. My feeling is that the next couple of weeks will offer some unprecedented long-side opportunities.

On retaliation:
The international community must now take clear and decisive action against the arab animals who feel that it is OK to kill and die in the name of their crazy religion. We must not stop until we have eliminated every last iota of these dirty scumbags. I hope that USA, Europe, Israel, Russia and other democratic countries will unite against the enemy of terrorism. Here is my list of countries that I feel would support, condone or fund the terrorism:
a) Afghanistan (provides shelter to the devil-worshipper Osama Bin Laden)
b) Iraq (Saddam Hussain)
c) Iran (Islamic extremism)
d) Syria (they kill Israelis)
e) Palestinians (they kill Israelis)
f) Libya (they did Lockerbie bombing and US marines base bombing)
g) Pakistan (they kill Indians and support Osama Bin Ladin)
We must take punitive military action, with no mercy, against the above list of terrorist countries. God Bless America and the Free World.

List of major WTC companies:
Morgan Stanley Dean Witter
Cantor-Fitzgerald
Salomon Brothers
New York Board of Trade
Bank of America
Citigroup
Lehman Brothers
American Express
Credit Suisse Group
Deutsche Bank
Commerzbank
Sumitomo Mitsui Banking Corporation
Sinochem American Holdings of China
Nikko Securities
Zim-American Israeli Shipping
TradeWeb
ICAP

The list of dead won't only include Americans. It will include expatriate Europeans, Japanese, Chinese and Africans. This is a global disaster.
 
Originally posted by candletrader
The international community must now take clear and decisive action against the arab animals who feel that it is OK to kill and die in the name of their crazy religion. We must not stop until we have eliminated every last iota of these dirty scumbags. I hope that USA, Europe, Israel, Russia and other democratic countries will unite against the enemy of terrorism.
More...

candletrader, anybody who claims that they are killing in the name of religion is perverting the true nature of religion, be they muslim fundamentalists in palestine, hindu fundamentalists in india or christian fundamentalists in northern ireland, or whatever fundamentalists, albeit probably muslim, that perpetrated the atrocities in the us. the actions of all fundamentalists, keeping in mind that they are normally a very small minority vs a majority that renounces their objectives and means, fundamentalists, wherever they are and whatever they claim to believe in have nothing in common with those peace loving and tolerance based principles that all major religions have in common, their main objectives are based on little more than petty and mainly self beneficial power plays instrumentalising hate and revenge.

if we seek to wreak havoc on them than we are no better than they are, and that leads to a devils circle with ever increasing escalations of violence ultimately benefitting no one.


i'm currently in europe, and every single democratic countries leaders here and all over the world have publicly declared their full solidarity and sympathy with the us in these terrible times, and have organised church services with participation by many normal people from the streets but also the countries leaderships to pray for the victims and their families, this international outflow of support is truely heartfelt and sincere, just as the international communities absolute commitment and determination is to do everything possible to find effective ways to prevent international terrorism from becoming the new determinant factor in international relations.

bringing those to justice that carry responsibilty for these barbaric acts? yes and absolutely. but revenge? i hope not, as violence begets nothing than violence.
 
Status
Not open for further replies.
Back
Top