Hurricane’s shutdown of markets irks idled Chicago traders
For Chicago trading firms, Monday was a quasi-holiday. As traders on the East Coast stayed away from offices because of Hurricane Sandy’s life-threatening barrage, financial markets here operated at a leisurely pace.
And some Chicago traders didn’t care for it one bit. But they’ll have to put up with it again Tuesday, as the storm has forced the closure of most financial markets, including all stock-related dealings, for a second day.
Around Chicago’s financial hub on La Salle Street, some traders criticized the exchanges for shutting down entirely. They said computerized trading should have proceeded to serve investors and firms worldwide.
“In an age of electronic markets, it’s a fair question to ask if they should have closed completely,” said Christopher Hehmeyer, chief executive officer of HTG Capital Partners, a firm that trades for its own accounts and uses high-frequency computer programs. “These markets are supposed to be virtual.”
A spokeswoman for Getco LLC, among the largest high-frequency trading firms in Chicago, also voiced displeasure with the closure. “Our sense is that it’s more important for financial markets to be open,” she said.
Sick, spoiled, clueless, entitled fucks.
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- ashamedtosay said: I have nothing to add, you seem to sum it up well with the last line.
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- stupon said: “Now I snorted that coke for nothing.”
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- sblaufuss said: What a bunch of fuckballs.
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- hookersorcake said: cocaine is a helluva drug
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- mattdoucette said: It really is just a video game to them.
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