“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.