NEW YORK Oct 29 EMTA, the trade association for
the emerging markets, on Monday recommended the closure of all
trading in emerging market debt issues in the United States on
Oct. 30 due to Hurricane Sandy bearing down on the U.S. East
The closure would be consistent with other U.S. fixed income
Sandy is due to make landfall south of New York City in the
early morning hours of Tuesday.
In addition, EMTA recommended that London trading of
emerging market debt instruments should "remain open for
business until 12:00 noon (London time)" on Oct. 30.
EMTA is recommending that all trades made on either Oct 29
or Oct 30 should settle on Nov. 2 while trades on Oct. 31 settle
on Nov. 5, "in order to comply with the T+3 settlement cycle."