Market Shutdown Annoys Some Chicago Traders

NYSE and NASDAQ to remain closed Tuesday due to Superstorm Sandy

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    NEWSLETTERS

    AP
    The stock markets will remain closed Tuesday due to Superstorm Sandy.

    Superstorm Sandy forced the closure of the stock market, but not all Chicago-based traders are happy with the unexpected holiday.

    HTG Capital Partners CEO Christopher Hehmeyer questioned whether the markets should have closed completely in "an age of electronic markets," the Chicago Sun-Times reported.

    A spokeswoman for Chicago trading firm Getco LLC also the newspaper that the financial markets should have remained open despite the storm.

    CNBC's Jim Kramer told the Today Show Tuesday that it was necessary to close the markets because fewer amounts of traders on the floor could have led to stock manipulation.

    A New York Stock Exchange spokesman condemned the comments as "criticism you get from people sitting in an armchair 800 miles away.”

    The NYSE and NASDAQ will remain closed on Tuesday.