What happend in 911 in stock market?

J

jk90029

-Dear

Many newbies like me (no trading experience in 911) are curious about what happens, if

1) the electricity
2) or internet is down
3) or IB server or NYSE stop settlement
4) or else.

For example, in case tragedy like 911 in 2001 happens, there might be some backup plans prepared and noticed to traders.

What kind of settlement or other were processed in 911?
Is there any precise document (web link) at that time, for reference?

-Jay
 
Most equity traders are NOT in a hurry for D+3 settlement and margin call, but future/options may be in danger, if my understanding is correct.

In case 911 happened at 10 AM exactly, what happened in the afternoon trading?
 
rmorse said:
The US Stock Exchanges were closed that week. NYSE and the Nasdaq remained closed until September 17.

http://www.investopedia.com/financial-edge/0911/how-september-11-affected-the-u.s.-stock-market.aspx
More...

There was seven days (a week) between Sep 11 and Sep 17.

So the original settlement date for D+3 was postponed to D+3+7 = D+10. No others for individual traders, except hugh drop in AMR and UAL?

I mean, in case tragedy happens again, we should prepare for it.
Hope to make sure what to do in the worst scenario.
SEC and most brokers have separate backups in many places, I understand, so that traders prepare backups likewise.
 
Last edited:
Does anyone one know how long did it that on the day of the attack for them to suspend trading? anyone have an intraday chart of ES or SPY?
 
Daal said:
Does anyone one know how long did it that on the day of the attack for them to suspend trading? anyone have an intraday chart of ES or SPY?
More...

Hope to see the chart of SPY, from Sep 10 to Sep 18.

Some option trader made 150 times in ONE DAY at 911, if I heard correctly.
 
We never open for trading that day. All the lines were cut downtown. The NYSE has a back up facility now, not sure what they had then.
 
rmorse said:
We never open for trading that day. All the lines were cut downtown. The NYSE has a back up facility now, not sure what they had then.
More...

Fortunately, 911 happened before 9:30 AM (coincidence?).
Therefore no more loss by 911, to the individual trader. (best and equal response decision by SEC, I agree)
 
I was on the Amex. I believe, but can't remember, that our stocks opened on the NYSE platform at the same time that the NYSE equities opened. Our option market makers were allowed to trade on the Philly floor until we could reopen around three weeks later. For those of you not familiar with downtown, the Amex is very close to the WTC but the NYSE is a few blocks away. It was amazing that we were able to reopen that fast as all our communications lines were cut and we had no electricity.

I don't remember what happened to the futures exchanges that were near the WTC.
 
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