WASHINGTON, October 5, 2017 – Although the increasingly confused denizens of La-La-Land will apparently enjoy their first-ever “Indigenous Peoples Day” holiday this coming Monday, most of us will still be giving a nod to good old Christopher Columbus on that official (more or less) U.S. Federal holiday.
Back when this increasingly aging investor was in grade school, we all learned that after Chris and his tiny 3-boat armada sailed the ocean blue, he and his intrepid crew discovered America, even though he thought he’d actually found a really short route to the Far East.
After the fact, it turned out he’d discovered a brand new continent. Two actually. And centuries after that fact, it turned out that Chris had been beaten to the New World centuries before his voyage. Intrepid northern European adventurers, including (presumably) stalwart navigators like Leif Erikson and perhaps even Brendan the Navigator are now candidates for the American discovery crown.
Even before these swashbucklers, numerous humans of Asian origin had crossed the then-existing ice bridge from Asia to (presumably) northern Alaska, gradually creating settlements throughout the Americas. Presumably, it’s these hearty folks and their descendants that PC Angelinos are referring to as indigenous peoples.
We’ve often wondered, however, why they’re considered indigenous at all, given that they, like Leif, Brendan and Chris, had also come here from somewhere else. But logic was never the strong suit of our current crop of leftist historical revisionists.
Anyhow, Monday is a holiday and trading hours will adjust for that fact as usual. Here’s the info you’ll need to know if you’re an active trader:
Columbus Day Schedule for U.S. and Canadian stocks and bonds
U.S. Markets, Monday, October 9, 2017
Monday is a Federal bank holiday in observance of Columbus Day. Many government officials and most banking officials observe this holiday, although most private sector businesses do not.
Likely for that reason, unlike other Federal/banking holidays, Monday is a normal trading day, but it’s not a settlement day, meaning trades that now normally settle in two business days will settle (effectively) in three, since Monday won’t count. Some Mutual Funds will not be trading on Monday, October 9, 2017.
Friday, October 6, 2017: Normal market hours in advance of the observance of Columbus Day on Monday, October 9, 2017.
In most cases, fixed Income orders placed after 5 p.m. EST on Friday, October 6, 2017 will be entered for the next business day, Tuesday, October 10, 2017.
Trade and settlement dates:
|Trade Date||Settlement Date|
|Thursday, October 5, 2017||Tuesday, October 10, 2017|
|Friday, October 6, 2017||Wednesday, October 11, 2017|
|Monday, October 9, 2017||Wednesday, October 11, 2017|
Canadian markets, Monday, October 9, 2017
Canadian markets are closed on Monday, October 9, 2017 in observance of Canada’s Thanksgiving Holiday.
Friday, October 9, 2017
GTC (Good ‘til canceled) Canadian equity orders placed after U.S Markets close on Friday, October 6, 2017, will route to the Canadian exchanges on Tuesday, October 10, 2017. Day orders for Canadian listed securities placed after the close of business on October 6, 2017, for October 9, 2017, will be cancelled out at the end of the day on October 9, 2017. Dually listed Canadian stocks that trade in the U.S. markets will trade during U.S. market hours on October 9, 2017.
U.S. Option orders placed on Friday, October 6, 2017 will settle Tuesday, October 10, 2017, not on the holiday.
Check with your brokerage house if you plan to place mutual fund buy or sell orders Friday or Monday. Some companies/funds may not be open for buys or sells on one or both these dates, so you’ll want to know when these trades settle and execute.
That’s about it. So Happy Columbus Day to all those who don’t really care about the latest PC remanufacturing of this longtime holiday. (Italians, too).
Except for enlightened residents of Los Angeles, of course, along with their puckish pals in Nashville and (of course) Austin, or so we hear. Presumably, they’ll still observe the trading hours we’ve just outlined here, even though they’re calling the holiday something else, virtue-signaling all the way.