Stocks: Columbus Day holiday weekend trading schedule

Stocks: Columbus Day holiday weekend trading schedule

As always, a national holiday like Columbus Day alters trading and settlement hours from Thursday through Tuesday. But things are further complicated due to Canada's Thanksgiving Holiday.

"First Landing of Columbus on the Shores of the New World," painting by Dióscoro Puebla (1862). Via Wikipedia.

WASHINGTON, Oct. 8, 2015 – Columbus Day weekend comes a bit early this year. But, as always, whenever we run into a federal holiday, normal trading hours are adjusted. That’s crucial if you’re planning one or more key trades or are looking for the date when your trade will settle — i.e., the day when you can withdraw your money if you need it.

With that in mind, this year’s official celebration of Columbus Day falls on Oct. 12. What’s a bit unusual is that it’s still a regular trading day, but not a settlement day. That is, you can trade, but certain trades from this week can’t settle on Columbus Day (Monday), since it’s a federal bank holiday, meaning that all banks are closed. Another complication for Canadian and some international traders: Monday also happens to mark Canada’s own Thanksgiving Day Holiday.

Here’s how all this will work:

U.S. markets: Open for regular business on Columbus Day. It’s a trading day, but not a settlement day. Those transacting business this week and expecting to withdraw cash next week will have to wait an extra day.

Due to the Canadian Thanksgiving Day holiday, U.S. and Canadian trades involving Canadian markets will be affected as follows:

Canadian exchanges are closed Oct. 12. GTC (good ‘til canceled) orders placed after the close of the U.S. Market on Friday, Oct. 9, will route to the Canadian exchanges on Tuesday, Oct. 13. Day orders for Canadian listed securities placed after the close of business on Oct. 9 for Oct. 12 will be cancelled out at the end of the day on Oct. 12. Dually listed Canadian stocks that trade in the U.S. markets will trade during U.S. market hours on Oct. 12.

Check with your broker for further details.

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Terry Ponick
Biographical Note: Dateline Award-winning music and theater critic for The Connection Newspapers and the Reston-Fairfax Times, Terry was the music critic for the Washington Times print edition (1994-2010) and online Communities (2010-2014). Since 2014, he has been the Business and Entertainment Editor for Communities Digital News (CDN). A former stockbroker and a writer and editor with many interests, he served as editor under contract from the White House Office of Science and Technology Policy (OSTP) and continues to write on science and business topics. He is a graduate of Georgetown University (BA, MA) and the University of South Carolina where he was awarded a Ph.D. in English and American Literature and co-founded one of the earliest Writing Labs in the country. Twitter: @terryp17