business forward

Wall Street Moves to Close Markets for Juneteenth in 2022 - The Wall Street Journal

Stock and bond markets are moving toward shutting down in honor of Juneteenth next year.

The Securities Industry and Financial Markets Association recommended this week that bond markets close for the full day on Monday, June 20, 2022, in observance of the new federal holiday that falls on a Sunday next year. Juneteenth commemorates the end of slavery in the U.S.

The biggest Wall Street banks are all members of Sifma, so the financial industry typically follows the group’s recommended holiday schedules.

Stock exchanges close for many federal holidays but remain open for some, such as Columbus Day and Veterans Day.

In a speech last month, New York Stock Exchange Chief Operating Officer Michael Blaugrund indicated that the Big Board would close for the new federal holiday. NYSE President Stacey Cunningham decided the exchange would adopt Juneteenth as a market holiday beginning in 2022, Mr. Blaugrund said to an audience that included former New York Gov. David Paterson and guests from the NAACP.