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Sandy Shows Wall Street No Less Vulnerable

Weather-related shutdown suggests markets infrastructure still too concentrated in New York area.

By Nina Mehta, Bloomberg | Updated on November 02, 2012

The longest weather-related shutdown of U.S. stock trading since 1888 ended Oct. 31 without incident, while underscoring how vulnerable the world’s biggest financial market remains to disasters.

Duncan Niederauer, the chief executive officer of NYSE Euronext, said trading went smoothly as American equity markets came back to life after a 48-hour hiatus forced by Hurricane Sandy. Trading was suspended three days earlier when concerns about human safety and how well the New York Stock Exchange’s backup plan would work convinced executives that moving ahead was too risky.

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