Markets closed for Good Friday
U.S. and Indian stock exchanges were closed on Good Friday (April 3), so there was no on‑exchange equity trading and U.S. bond markets ran a half‑day schedule, closing at noon ET. (m.economictimes.com) This means traders and founders should expect limited liquidity and any corporate news over the long weekend won’t be tradable until markets reopen on Easter Monday, April 6. (ibtimes.com.au)
Holiday and shortened sessions thin out the pool of active buyers and sellers — that reduction in participation is called reduced liquidity, meaning it takes larger orders to move prices and it becomes harder to get full fills at expected prices. (russellinvestments.com) Historically, those low‑participation periods produce wider bid‑ask spreads (the gap between what buyers will pay and sellers will accept) and a higher chance of sharp price jumps when normal trading resumes. (moneypulses.com) Some markets that track the same underlying assets run on different timetables: futures exchanges and other derivatives venues use modified holiday hours (futures are contracts that agree today to buy or sell an asset later), so their price feeds can be active while on‑exchange equity trading is paused. (support.tastytrade.com) Cryptocurrency venues and many over‑the‑counter currency desks trade 24/7, so those off‑exchange prices can move independently over the long weekend and become reference points for traders. (coindesk.com) Material corporate news published during the closure will not be executable on U.S. exchanges until the opening auction at 9:30 a.m. Eastern on Monday, April 6, so the first tradable price typically appears at that open and can gap away from the prior close. (nyse.com) Smaller‑capitalization and thinly traded names are particularly likely to show large opening gaps because their order books have fewer standing orders to absorb sudden demand. (iconfx.com) The industry body SIFMA recommended an early 12:00 p.m. Eastern close for fixed‑income trading on Good Friday and advised special settlement guidance for government, mortgage‑backed and corporate bond trades, which affects when those markets can clear and settle. (sifma.org) Trading desks and execution providers typically respond to holiday‑thinned conditions by using limit orders and reducing size to limit slippage and unexpected fills. (iconfx.com)
