Flood halts futures trades

April 14, 1992|By New York Times News Service

The Chicago Board of Trade and the Chicago Mercantile Exchange, the primary markets in futures contracts on everything from wheat to stock indexes, were forced to close yesterday morning as millions of gallons of water flooded basements in the heart of downtown Chicago. The Board of Trade halted trading at 9:45 a.m. CDT, and the Mercantile Exchange an hour later. That was before trading in grain contracts had begun for the day.

Trading in financial contracts, including bond futures, currency futures and stock-index futures, had begun but was halted. The Chicago Board Options Exchange, the nation's largest options exchange, stopped trading at 12:30 p.m.

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