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New Year's Day, 2011: No Holiday for Wall Street

December 7, 2010

New Year’s Day (January 1) in 2011 falls on a Saturday, so you'd think Wall Street will observe the holiday on the preceding Friday or the following Monday.  It's not going to happen.  so why couldn't Wall .  The rules of the applicable exchanges state, in relevant part, that when a holiday falls on a Saturday, the preceding Friday is observed, unless the Friday is the end of a monthly or yearly accounting period. 

In this case, Friday, 12/31/10, is the end of both a monthly and yearly accounting period;  therefore, the exchanges will be open that day and the following Monday.

At least we don't have long to wait.  In observance of Martin Luther King, Jr.'s birthday, securities exchanges will be closed on Monday, 1/17/11.  On Monday, 2/17/11, we observe the births of Presidents Washington and Lincoln.

For the rest of the calendar, click onto:   [FINRA InfoNote, 12/2/10]