NY 2011 (Observed)

[scandal 951]

Do you get a day off for New Years this year?

Jan 1 falls on a Saturday. Possible days off might be Friday Dec 31 2010, or Monday Jan 3 2011.

Christmas falls on Sat Dec 25.

At our firm, we get a stat holiday on days when the financial markets are closed. But we're open for business every day the markets are open.

The markets will be closed on Fri Dec 24 to observe a day off for Christmas, so we get that day off.

But for New Years all the US markets are open on Fri Dec 31 and on Mon Jan 3.

I can understand why the Friday is an open-market day, since New Year 2011 should count as a 2011 observance and should not remove a business day from 2010. But apparently they have opted not to close the markets on Mon Jan 3.

So we will get only 8 stat holidays for 2011 rather than 9.

Anyone else losing out on a day off for NY 2011?

[thongd4me 69]

Do you get a day off for New Years this year?

Anyone else losing out on a day off for NY 2011?

I get New Year's day off if it falls on a weekday but the Monday after if it falls on Saturday or Sunday.

I think the financial markets don't want to have a day off on the first business day of the year because

if some kind of trend is set in other world markets they don't want to get in on it a day late.

I think the only way out of that is for all world markets to agree on taking a holiday on the same day.

I think that Friday the 31st would normally end trading at 1 or 2.

Happy New Year, hope you profit from it.