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In the late s, an unusual crisis struck Wall Street. Daily trading volume on the New York Stock Exchange was soaring to new heights, with the average number of shares changing hands more than doubling in just three years. But in this era before automated systems and processing, the Street soon became overwhelmed. Nyse trading days per month the days before computerized trading and a centralized electronic stock delivery system, the Street depended on messengers tasked with trudging up and down Wall Street to deliver paper stock certificates by hand.

Bydaily trading volume hit 12 million shares a day. The sheer mass of stock certificates and other paperwork overwhelmed many Wall Street back offices, the groups working behind the scenes to settle and clear trades.

For months the exchange closed on Wednesdays, and sometimes needed to close early on other days nyse trading days per month give firms additional time to combat severe backlogs. The extra time wasn't enough to stem the flood of "fails" -- failures by firms to receive or deliver securities within five days of a trade -- that rocked the street.

Nonetheless, the firm grappled with millions of dollars in fails. The ongoing paperwork problems "turned the situation into a disaster Over just two years, about a sixth of all NYSE member firms disappeared from Wall Street, either through merger or closure, and almost every one "suffered greatly from confusion in its back office," according to Wells. To compound the problem, amid the chaos, thieves thrived. At a U. Senate hearing covered by the NY TimesU.

Attorney General John N. But while the period was traumatic for some, others embraced the frequent Exchange closures. While back office employees were hard at work, some brokerage salesmen would skip out to go work on their golf game, the New York Times reported in Alan Epstein, who spent more than half a century as a broker, said paperwork problems didn't bother him in the least.

I was only aware that we closed early and the brokers got bonuses. The automation of trades through computers -- spearheaded by Haack and considered to be one of his crowning achievements -- provided much-needed relief from the paperwork logjam. But automation didn't come cheap and smaller firms couldn't afford it at all, according to Wells.

The firms that did pursue automation, however, had a strong incentive to increase transactions and pursue new lines of business.

Later, the creation of a central recordkeeping institution, the Depository Trust Corporation DTCadded another layer of protection and efficiency. Today, the DTC and high-tech best way to trade penny stocks online allow for trade volumes that are exponentially greater than those that birthed the Paperwork Crisis.

Trading nyse trading days per month on the NYSE is typically north of million shares a day, and often exceeds one billion shares. Inthen a record-breaking year for the Exchange, nyse trading days per month average daily volume didn't quite hit 13 million shares.

The stark contrast between now and then nyse trading days per month lost on Gardiner. When Paper Paralyzed Wall Street:

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In business , the trading day is the time span that a particular stock exchange is open. For example, the New York Stock Exchange is, as of , open from 9: Trading days are usually Monday to Friday.

When a trading day ends, all share trading ends and is frozen in time until the next trading day begins. There are several other special circumstances which would lead to a shortened trading day, or no trading day at all, such as on holidays. This is from There are exactly trading days in January has the fewest number 19 , and August the most 23 , with an average of 21 per month, or 63 per quarter.

Out of a possible days, days are weekend days Saturday and Sunday when the stock exchanges are closed. Eight of the 9 holidays which close the exchanges fall on weekdays, with Christmas being observed on Monday, December There is one shortened trading session on Friday, November 25, the day following Thanksgiving Day.

February and April have the fewest 19 , and March and August the most 23 , with an average of Eight of the 9 holidays which close the exchanges fall on weekdays, with New Year's Day being observed on Monday, January 2. There are two shortened trading sessions: February and September have the fewest 19 , and August the most 23 , with an average of 21 per month, or 63 per quarter.

All 9 holidays which close the exchanges fall on weekdays. There are three shortened trading sessions: Each Stock Exchange has opening hours that are based on specific time zones. The Trading Day for a person in Vancouver would be 6: During the part of the year when the US is on Standard time, in it would be From Wikipedia, the free encyclopedia. Retrieved from " https: Views Read Edit View history. Languages Deutsch Polski Edit links.

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