why is the stock market open on veterans day

This article answers why is the stock market open on veterans day, explains exchange holiday policies, differences with bond and bank schedules, and gives practical guidance for traders — including...

2025-08-24 12:13:00

By Nexus Link

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Why is the stock market open on Veterans Day

Quick answer: U.S. equities exchanges such as the NYSE and NASDAQ typically remain open on Veterans Day. This article explains why is the stock market open on veterans day, how exchange holiday calendars are determined, the difference with bond markets and banks, and practical effects on trading, settlement and investor operations.

Summary

Why is the stock market open on veterans day? In short: the decision to open or close on a federal holiday is set by each exchange and its operator, not automatically by federal government holiday status. Historically, major U.S. equity exchanges often remain open on Veterans Day to preserve continuous price discovery and liquidity. By contrast, bond markets, some clearing and settlement systems, and many banks follow different holiday schedules and may close — creating practical settlement and operational impacts for traders and investors.

As of November 10, 2023, according to USA Today, U.S. equity exchanges planned normal operations on Veterans Day, while several financial institutions adjusted processing schedules. As of October 2024, according to SIFMA's bond market holiday guidance, fixed-income trading observances can differ from equities, and Veterans Day is commonly observed by many bond market participants.

This article will help beginners and experienced investors understand the governance and rationale behind exchange holiday calendars, what to expect for trade execution and settlement, and how to prepare operationally. It also notes where Bitget products can help manage cross-market operations and custody when traditional banking/settlement timelines shift.

Background: Veterans Day as a federal holiday

Veterans Day, observed annually on November 11, is a U.S. federal holiday honoring military veterans. It originated from armistice observances after World War I and is codified as a federal holiday that affects federal offices and employees.

Important to investors: federal holiday designation does not automatically determine the operating status of private-sector firms, stock exchanges, payment networks, or clearinghouses. Private market participants and exchanges set their own holiday calendars and operating rules.

Why does this matter? Because the U.S. financial ecosystem involves many interdependent participants — exchanges, brokers, clearinghouses, banks, and bond market networks — and each may follow a different holiday schedule. That difference is the reason why is the stock market open on veterans day while some other financial services pause.

Exchange holiday policy and governance

Who decides whether an exchange opens on a holiday? Each exchange and its operator define their market calendar and trading hours. In the U.S., the NYSE, NASDAQ and other exchanges publish annual trading calendars that list full closures, early closes and special hours.

Key points about exchange governance:

Exchanges adopt holiday calendars through internal governance and regulatory filings. They consider market participants’ needs, liquidity, and operational risk.
Exchanges coordinate with clearinghouses and self-regulatory organizations but are not required to follow federal holiday lists for non-governmental trading days.
Annual calendars and any special notices are publicly published by the exchanges and communicated to brokers and clearing firms to allow operational planning.

Because exchanges aim to maintain continuous markets for price discovery and liquidity, they often opt to remain open on some federal holidays (like Veterans Day), while closing on others (such as Thanksgiving Day and Christmas Day). This selective observance is deliberate, balancing market access and operational risk.

Historical precedent for equities remaining open

Historically, U.S. equities markets have treated Veterans Day as a normal trading day in many years. The reasoning includes:

Market continuity: Keeping markets open maintains uninterrupted price discovery, reducing volatility and fragmentation.
Liquidity preservation: Allowing trading on an extra day helps institutional and retail participants execute needed transactions without compressing activity into adjacent days.
Economic activity: Equity trading supports corporate events, index rebalances, and capital flows that do not align neatly with federal holiday schedules.

Because equities trading underpins a broad set of economic functions — from corporate share issuance to ETF rebalancing — exchanges often prefer to observe a narrower set of closures to minimize market disruption. This is a primary reason why is the stock market open on veterans day in many years.

Difference between equities exchanges and bond/clearing systems

Although equities exchanges frequently trade on Veterans Day, bond markets and clearing/settlement systems often follow different holiday rules.

Bond markets: The bond market holiday calendar (commonly referenced using SIFMA guidance in the U.S.) may list Veterans Day as a holiday for specific fixed-income trading and settlement activities. This means interdealer trading desks, government securities desks and some institutional platforms may be closed.
Clearing and settlement: Central clearing counterparties and settlement systems rely on banks and custodians. If banks are closed for a federal holiday, settlement instructions and cash movements may be queued until the next bank business day.
Payment rails: Automated Clearing House (ACH) and many wire systems follow bank holidays. Even if an equity trade executes, the associated cash leg may await banks’ next open day.

This divergence is central to operational impacts: trades can execute on an equities exchange on Veterans Day even if cash settlement cannot complete until banks reopen. That gap explains common questions about withdrawals, fund transfers and final settlement timing.

Practical implications for trading and settlement

Trade execution and market liquidity

When equities exchanges are open on Veterans Day, trading typically follows regular market hours (for most years). That means:

Order books are active, and price discovery continues through the session.
Liquidity is generally available, though some participants may reduce activity, which can thin certain off-hour niches (e.g., low-cap names).
Major indices and ETFs that track equities remain tradable, allowing portfolio managers to rebalance as necessary.

Because many institutional participants continue trading, the market may maintain robust depth; however, some specialized desks (particularly in fixed income) may scale back, which can slightly change cross-asset liquidity dynamics.

Settlement timing and bank closures

A core operational nuance: executing a trade is separate from settling its cash and securities legs. Typical U.S. equity settlement follows the T+1 standard (trade date plus one business day). Practical effects when equities trade on Veterans Day:

If banks and some settlement intermediaries are closed on Veterans Day, cash settlement that would normally occur on T+1 can be delayed until banks reopen.
Deposits, wire transfers and ACH movements often do not post on holidays, so broker cash balances or transfers may not clear until the next bank business day.
For example, a trade executed on Veterans Day could have its cash leg settled the next bank business day rather than the calendar next day if that day is a bank holiday.

Operational impacts investors should expect:

Withdrawal delays: Cash withdrawals requested around the holiday may be batched and processed when banks resume operations.
Margin and buying power: While executed trades settle per the settlement rules, brokers often reflect provisional buying power based on expected settlement. But margin calculations can be affected if settlement timing changes.
Fund transfers (ACH/wire): Timing shifts may delay availability of funds for trading or withdrawal.

Options and derivatives

Options and many equity derivative products typically follow the equities exchange schedule. That implies:

If the underlying equity market is open, most listed options trade on their usual schedule.
However, some futures and derivatives exchanges maintain modified holiday hours or close for certain federal observances. Traders in derivatives should check specific exchange calendars.
Option expirations, settlement windows, and exercise deadlines remain subject to product rules; always confirm with your broker and the exchange’s product notices.

Because product-level calendars can vary, traders in complex strategies should verify each leg’s operational schedule around Veterans Day.

Broker, bank and investor operational effects

Brokers and banks communicate operational changes differently. Typical broker guidance around Veterans Day includes:

Holiday notices: Brokers publish holiday calendars and transactional cutoffs well in advance so clients can plan deposits, margin actions and withdrawals.
ACH/wire timing: Many brokers will note that ACH or wire transfers initiated on or immediately before Veterans Day may not settle until the next bank business day.
Customer service hours: Some broker customer support teams may operate limited hours; others remain fully staffed. Check broker notices to confirm.

Investor planning tips:

Verify your broker’s holiday calendar and any special processing cutoffs before initiating large transfers.
For time-sensitive settlements (e.g., fund subscriptions, corporate actions), confirm whether cash will be available on the intended date.
For margin-sensitive positions, maintain extra cash or collateral to avoid forced liquidations if settlement timing shifts.

Bitget note: For investors who also operate in digital asset markets, consider using services like Bitget for spot and derivatives exposure, and Bitget Wallet for custody, since blockchain-based settlements can operate independently of traditional bank holidays. However, remember that fiat on-ramps and off-ramps remain subject to bank and ACH schedules.

International markets and comparators

How do other major markets treat November 11? Many global exchanges follow their national holiday calendars:

London and Euronext: These exchanges usually treat November 11 as a normal trading day unless the country specifically declares a national holiday that affects trading.
Tokyo: Japan has its own set of national holidays; November 11 is typically not a national holiday in Japan and Tokyo markets usually operate normally.
Hong Kong and Shanghai: These markets follow their national holiday schedules and generally do not treat U.S. Veterans Day as a market holiday.

Because exchange holiday policies are local, global traders should check each exchange’s published calendar. Differences across markets can create cross-border settlement and liquidity considerations for multinational portfolios.

Notable exceptions and special cases

There are circumstances that override standard calendars. Possible exceptions include:

National mourning or extraordinary government declarations that lead to market closures.
Exchange-specific suspensions for system outages, security incidents or extreme market events.
Early-closes announced for operational reasons (e.g., before Thanksgiving) which could be scheduled near a holiday.
Product-level halts or circuit breakers that pause trading in a specific security or product group.

These exceptions are rare but important: exchanges publish emergency notices and brokers relay them to clients. Always monitor official exchange notices if calendar changes are possible.

Why exchanges choose this approach (policy rationale)

Exchanges balance several incentives when choosing holiday calendars. Main rationales include:

Preserve continuous liquidity and price discovery for market participants.
Avoid market fragmentation that would arise from inconsistent or excessive closures.
Reduce operational complexity by observing a narrower set of closures that align with major global trading partners and participant needs.

In short, exchanges often remain open on certain federal holidays because uninterrupted trading better serves market efficiency and participant needs — a central reason behind why is the stock market open on veterans day.

Practical guidance for investors

Checklist to prepare around Veterans Day and similar mixed-holiday days:

Verify exchange holiday calendars: Confirm whether the exchange you trade on is open and whether any products have modified hours.
Check your broker’s processing notices: Look for deposit/withdrawal cutoffs, ACH/wire schedules, and customer service hours.
Expect settlement delays: If banks are closed, trades may execute but cash settlement or withdrawals can be delayed to the next bank business day.
Confirm product hours: Options, futures, and other derivatives can have modified schedules; check product-level notices.
Maintain margin buffer: Keep extra collateral to avoid forced actions if settlement timing changes.
Plan corporate action interactions: Dividend payments, corporate action elections and record dates may have special processing rules.

Operational tip: Use platform tools (e.g., pre-scheduled orders, limit/stop protections) to manage positions during holidays. For traders using crypto rails for settlement, Bitget Wallet and Bitget exchange can offer alternative settlement mechanisms independent of bank holidays — but be mindful of fiat on/off-ramp timing.

Frequently asked questions (FAQ)

Q: Are NYSE and NASDAQ open on Veterans Day?

A: Yes. In many years, the NYSE and NASDAQ operate on Veterans Day. Always verify the current year’s published exchange calendar, but historically equities exchanges have frequently remained open on November 11.

Q: Is the bond market open on Veterans Day?

A: Not always. Many bond market participants and interdealer trading desks follow a separate holiday calendar and may observe Veterans Day as a holiday. SIFMA’s annual bond market schedule is the usual reference.

Q: Will my deposit settle if I deposit on Veterans Day?

A: If you deposit via bank transfer (ACH/wire) on or immediately before Veterans Day, the deposit may not post until the next bank business day. Broker internal crediting policies vary; check your broker’s notice for specifics.

Q: Do options trade on Veterans Day?

A: Typically, listed equity options trade when the underlying equity exchanges are open. However, product-level and exchange-level notices can modify hours; confirm with the options exchange and your broker.

Q: How does T+1 settlement react to a holiday?

A: If a bank holiday intervenes between trade date and the next business day, settlement cash legs may be delayed until banks resume operations, even if securities are mechanically moved by the clearing system.

References and sources

As of November 10, 2023, according to USA Today, U.S. equity exchanges planned normal operations on Veterans Day while some banks adjusted processing schedules.
As of October 2024, SIFMA’s bond market holiday guidance lists Veterans Day as a day when many fixed-income desks and institutional systems pause trading or settlement.
Exchange-published calendars: NYSE and NASDAQ publish annual trading calendars that list observed holidays, early closes and special sessions.
Broker notices (Fidelity, Schwab and others) routinely explain deposit cutoffs and ACH/wire timing around federal holidays.

Sources: official exchange holiday pages, SIFMA bond market schedule, major broker holiday notices, and respected financial news coverage documenting market and settlement practices.

External links

For authoritative details, consult the exchange and market operators’ published calendars and your broker’s holiday notices. Also review SIFMA’s annual fixed-income holiday schedule and your clearing member’s operational bulletins.

Additional context: market scale and operational figures

To put scale behind the policy choices: the U.S. equities ecosystem handles many trillions in market capitalization and daily trading volume. For example, combined market capitalization of U.S.-listed securities runs into multiple tens of trillions of dollars, and average daily trading volume across major U.S. exchanges measures in the hundreds of billions of dollars in notional value (figures vary by year and source). These large volumes and economic importance motivate exchanges to preserve trading continuity when feasible.

On-chain and institutional adoption metrics: while this article focuses on equities and traditional markets, many institutions increasingly use digital-asset rails for settlement experiments and custody. Those blockchain-based activities are measured in on-chain transaction counts, wallet growth and staking volumes; such metrics provide alternative settlement bandwidth that is not tied to bank holidays. For investors interested in combining traditional and crypto rails, Bitget Wallet and Bitget exchange provide integrated on-ramp/off-ramp and custody features — though fiat movements still adhere to bank schedules.

Security and operational risk: exchanges and clearinghouses continuously update resilience plans and business continuity processes to handle holidays, outages and high-volume events. Historical incidents show that exchanges can and do temporarily suspend trading or impose special measures when operational risk is elevated; these are separate from routine holiday scheduling.

Practical next steps and resources

Verify exchange calendars: before November 11, check the NYSE and NASDAQ published calendars for the current year.
Check your broker’s processing schedule: look for deposit, withdrawal and ACH/wire cutoffs.
Plan around settlement: if you need cash available immediately after a trade, arrange transfers ahead of the holiday window.
Consider cross-rail tools: for some settlement needs, crypto rails offer 24/7 settlement; Bitget Wallet and Bitget services can be part of a diversified operational plan, but fiat settlement remains bank-dependent.

Further exploration: consult your broker’s help center and the exchanges’ official notices for product-level schedules and any special advisories around Veterans Day.

Closing / Further exploration

If you’re planning trades around Veterans Day, now is a good moment to confirm exchange hours and broker processing cutoffs. Remember why is the stock market open on veterans day: exchanges choose calendars to preserve market continuity, while banks and bond markets may follow federal holiday schedules that cause settlement timing differences. For traders who want integrated fiat and digital-asset workflows to manage settlement timing, explore Bitget products and Bitget Wallet to understand alternative rails and custody options. To stay up to date, always check official exchange calendars and your broker’s holiday notices before placing time-sensitive orders.

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