Client Management Advisory Notice
 | 
From Client Management
Subject INFORMATION NOTICE, December 14, 2001 - Clarification of President George W. Bush's Declaration of the Closing of Federal Government Executive Departments and Agencies on Monday, December 24, 2001
Effective Date 12/19/01
Notice Number CM#0188

 INFORMATION NOTICE

December 14, 2001

CLARIFICATION OF PRESIDENT GEORGE W. BUSH'S DECLARATION OF THE CLOSING OF FEDERAL GOVERNMENT EXECUTIVE DEPARTMENTS AND AGENCIES ON MONDAY, DECEMBER 24, 2001

Please note that Monday, Christmas Eve, December 24, 2001, is not a national holiday. CME has confirmed the following:

  • The Fed Wire electronic payments system will be open on Monday, Christmas Eve, December 24, 2001.
  • The New York Stock Exchange (NYSE) has no plans to alter its prior decision to have an abbreviated trading session with a 1:00 PM Eastern Standard Time (12:00 noon Central Standard Time) closing on Monday, December 24, 2001.
  • The Bond Market Association continues to recommend its members observe an abbreviated trading session with a 2:00 PM Eastern Standard Time (1:00 PM Central Standard Time) close on Monday, December 24, 2001.

On Wednesday, December 5, 2001, President George W. Bush ordered the closing of all executive branch departments and agencies of the Federal Government, and their employees were excused from duty on Monday, December 24, 2001, the day before Christmas Day. President Bush's executive order included the exception that the heads of executive branch departments and agencies may determine that certain offices and installations of their organizations, must remain open and that certain employees must report for duty on December 24, 2001, for reasons of national security or defense or other public reasons. Therefore, please note that Monday, December 24, 2001, is not a national holiday.

CME considered the impact of President Bush's declaration of an executive branch department and agency holiday (not a national holiday) and determined that CME would not change its prior published plans for trading on Monday, Christmas Eve, December 24, 2001.

Details of the CME holiday schedule for the Christmas and New Year's holidays are attached in the form of the CME Update article for Monday, December 17, 2001.

 

If you have any questions, please contact Steve Youngren, Associate Director, Financial Product Development at (312) 930-4583 or Georgette McDonald, Sr. Market Analyst, Financial Product Development at (312) 930-4577.