New York Stock Exchange ready for restart

US stock markets will reopen tomorrow after successful tests showing they are ready to reawaken from the longest shutdown since…

US stock markets will reopen tomorrow after successful tests showing they are ready to reawaken from the longest shutdown since World War I following the terror attack that crushed the World Trade Centre.

"Our systems are all go for Monday's opening," said NYSE chairman Mr Richard Grasso.

The world's largest stock market, located just three blocks southeast of the mountain of rubble that used to be the World Trade Centre, had been closed for trading for four days.

Workers were busy draping the front of the NYSE building, Wall Street's most famous landmark, with an enormous American flag. The streets around the building still are coated in wet soot, and huge street-sweepers worked furiously to clean up the mess. Police swarmed the area.

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US financial markets were paralysed on Tuesday after two hijacked planes toppled the World Trade Centre's twin 110-story towers, leaving an enormous pile of twisted steel and glass and some 5,000 people feared dead.

The NYSE was undamaged, but battered brokerage operations, crippled communications and lack of access to lower Manhattan - which has been cordoned off since the devastating attack - had thwarted Wall Street's efforts to recover. Nearly $43 billion worth of stocks change hands on the exchange each day.

Separately, the Nasdaq said in a press release that weekend testing was "highly successful" and that the exchange, market makers, electronic communications systems and other participants would be ready for Monday's open.

New York's mayor Mr Rudolph Giuliani said on Friday he would try to open as much of the city's Wall Street Financial district as possible tomorrow.

The NYSE will be passing out about 5,000 face masks to employees to help protect them from the swirling smoke that still hangs in a haze over lower Manhattan, Grasso said, noting that the city is constantly testing air quality in the area.

The visitor's gallery will be open, however, as a gesture of business as usual by the exchange.

The start of the trading session will be marked by the traditional opening bell followed by two minutes of silence to honour the victims of the attack and their families.

The bell will then be rung again by representatives of the New York City police and fire departments, emergency and medical service people, port authority police and transportation authorities, Grasso said.