New York Stock Exchange under Storm threat

I was reading about how the storm surge could involve 3m wall of water, how the subway in NY is closed and the evacuation of people out of harms way is ongoing.

NYSE is to close the floor and trading will take place electronically.

The New York Stock Exchange announced it will close its trading floor today but continue to trade electronically, despite fears from some experts that flooding could knock out the underground network of power, phone and high-speed Internet lines that are vital to the nation's financial capital.

Source

So if the storm damages valuable and required communications and electronic trading equipment, could that mean that the NYSE could be out of action for some time?

I would imagine that due to the underground nature of where the electronics are stored would surely put them at great risk?

Does anyone know what could happen if the stock market was unable to trade for extended period?

If the storm is as bad as they are saying on the news, and the financial capital of America is put at risk, could this indeed line up with implementation of martial law for control of the masses?

Could it induce panic and looting and widespread chaos?

reply to post by magma

Investors are excused for a bit of deja vu. Little more than a year ago, another hurricane prompted transit shutdowns, flooding worries and an evacuation of lower Manhattan. Wall Street then activated contingency plans, though flooding was not as bad as feared. Most trading firms keep alternative sites to ensure a smooth operation, while both the NYSE and Nasdaq keep their servers based in suburban New Jersey. Look for lower volume on the exchanges, though. Firms will not be running fully staffed.

www.forbes.com...

They sound prepared but I hope they have some kind of back up generators in case the power goes out.
[which I'm sure they do.... ]

Being as every thing is electronic now, it may be iffy....



Good luck to any and all in the affected area..... stay safe!!

Stocks can be traded online. The storm only affects the people actually on the floor of the NY stock exchange on Wall Street. Because the trading will be done exclusively electronically, who knows how volatile and weird the trading will be tomorrow...

The New York Stock Exchange said it will shut its trading floor starting tomorrow and invoke contingency plans to move all trading to NYSE Arca, its electronic exchange, as Hurricane Sandy heads toward the city.

www.bloomberg.com...

The high frequency trading programs make day trading hard enough, it appears that's all that will be operating tomorrow.

The NYSE has just released a statement clarifying its hours tomorrow - due to the storm:

•*NYSE TRADING FLOOR TO CLOSE TOMORROW; ALL TRADING TO BE ON ARCA
So, hold tight as all those low-lying humans will have left the building in the calm thoughtful hands of Johnny-5 and his friends.

Neat-o. Trading with machines.

www.zerohedge.com...

I hope Sandy destroys Wall Street, without injuring any people of course.

I saw these tweets on Twitter from Reuters

Reuters Top News ‏@Reuters

U.S. stock markets will close on Monday, possibly Tuesday as well because of concerns about market integrity - sources
Expand
4m Reuters Top News Reuters Top News ‏@Reuters

More: Decision to close U.S. stock markets come because of concerns about market integrity - source #breaking
Expand
4m Reuters Top News Reuters Top News ‏@Reuters

U.S. stock markets to close Monday, may also close Tuesday, according to sources. #breaking

I'm a bit confused, does this mean no online trading either or just on the trading floor? they didn't provide links but I will check again and ad any links given.

So if it is under water as predicted yesterday, what will happen next?

Things are looking pretty grim here.