U.S. markets will be closed on Thursday for Juneteenth. Both the New York Stock Exchange and Nasdaq will not operate, and the Securities Industry and Financial Markets Association (SIFMA) has also recommended that the U.S. bond market close for the day. Foreign exchange (FX) desks will be mostly closed, but some staff may still be on hand. For futures related to Equity Products at the Chicago Mercantile Exchange (CME), trading will continue as usual on Wednesday, June 18. However, on Thursday, June 19, trading will stop at 12:00 PM (Central Time) and restart at 5:00 PM. Trading resumes normally on Friday, June 20. For details about other CME products, specific holiday hours can be found on their trading page, marked in yellow.

Schedule Changes for Juneteenth

This text outlines the schedule changes surrounding Juneteenth, highlighting how various financial markets, including equities, bonds, futures, and foreign exchange, will adjust. Those managing risk in derivatives need to pay close attention to these brief closures, as they can affect price movements and liquidity before and after the holiday. With markets like the NYSE and Nasdaq closed, pricing signals from equities will pause. This impacts equity-index futures and option hedging strategies, which rely on real-time data. With CME’s equity products closing early on Thursday and re-opening later, there will be a limited trading window with low activity. Traders should be aware that during this time, there could be less volume and stability, particularly for sensitive positions. Bond trading will also stop completely, following SIFMA’s advice. With credit markets closed, rate-sensitive instruments like treasury futures may not react as usual. Yields will not change, and instruments that depend on fixed-income data will be inactive. Wednesday will be the last trading day before a full day without data input, squeezing adjustments or rollovers into fewer hours. It may be wise to reduce position sizes and trim unnecessary delta before the holiday. FX desks will mostly close, although limited staff will remain. This raises the possibility of gapping moves during low-activity hours. Since FX is a 24-hour market, it never fully shuts down, but participation from the U.S. will be much lower on these days. Traders relying on U.S. data or Federal Reserve-driven pricing will lack crucial information. Cross-currency swaps, basis trades, and other positions using futures and FX will require extra attention.

Futures Market Trading Hours

In the futures markets, equity-linked products at CME will trade normally on Wednesday, followed by a midday closure on Thursday. Trading will halt at 12:00 PM Central Time on Thursday, significantly shortening the session, leading to reduced liquidity and distorted bid-offer spreads. While some instruments will reopen just five hours later, the low volume and lack of settlement activity may create a noisy trading environment. It’s advisable to avoid initiating new directional trades during this period unless supported by reliable external flows. For those trading commodities or interest rate futures, the CME trading page, highlighted in yellow, shows the exact operating hours. It’s not common to check this daily, but it’s essential this week. Each product behaves independently, so assuming they all follow the same calendar can lead to errors. Keeping track of when markets open and close, especially with unusual hours, helps preserve capital. Lastly, while markets will return to normal hours on Friday, this doesn’t mean liquidity will improve immediately. In past years, Friday trading has often felt more like a transition day, with participants returning gradually. This gap between market reopening and available liquidity should be managed with reduced risk rather than increased exposure. Create your live VT Markets account and start trading now.

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