Why Was the Stock Market Closed for Good Friday?
March 22, 2008
Eddy at Cross Wall Streent asked the question on his blog yesterday, “Why Is the Stock Market Closed for Good Friday?”
The answer actually has to do with the NYSE and the terms of their free (or at least very favorable) use of the property on which it is located. Those terms require the exchange to be closed for the major Christian holidays, of which Good Friday is considered to be one.
Simple as that. Of course the fixed income market closed early Thursday, which they do before all holidays. They are often dubbed the smart bunch among traders, but they also work the least. Forex, on the other hand, is open seemingly all the time. I should know. I started in fixed income and later moved to forex and suddenly had almost no holidays.
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