Share “Market shutdown idles professional traders...”

Market shutdown idles professional traders in Oklahoma

Monday's market closure left professional investors in Oklahoma with little to do but stay in touch with their clients.
by Don Mecoy Published: October 29, 2012

“We had a number of corporations planning for their liquidity needs for the next few days,” Brown said. “There was a bevy of activity.”

Bret Dean, BOSC president, said when the stock market closes, “there's not a lot we can do.”

Many of the people working in BOSC's trading room spent Monday contacting clients to “talk them through what's going on,” Dean said.

The shutdown comes in a week that will conclude with major economic announcements, including employment numbers, and with next week's presidential election on the horizon.

Having markets close “heaps on a little more uncertainty,” Brown said.

Gary Tillman, BOSC vice president of institutional investments, labeled the shutdown “a little hiccup. I don't think it's anything major.”

Phillips agreed, saying none of his clients had expressed concerns about the impact of the market closure on prices.

Meanwhile, Phillips said traders are “sitting on our hands,” waiting for the storm to pass.

by Don Mecoy
Business Editor
Business Editor Don Mecoy has covered business news for more than a decade after earlier working on The Oklahoman's city, state and metro news desks, including a stint as city editor. He has won state and regional journalism awards for business,...
+ show more


AROUND THE WEB

  1. 1
    Tulsa sheriff asks state Supreme Court to block grand jury probe
  2. 2
    VIDEO: Kevin Durant tees off at TopGolf
  3. 3
    Report: LaMarcus Aldridge to meet with Heat's Riley, Lakers for second time
  4. 4
    Where are they now: Former OU standout Tommie Harris finding second life after tragedy
  5. 5
    Group commits more than $300M to form new midstream company
+ show more