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Why is the stock market closed, and how does it affect my account?
Why is the stock market closed, and how does it affect my account?
Updated over a week ago

The stock market, bond market, and federal reserve are closed or have reduced hours for most federal holidays. During this time, they are closed to trading and transacting on money movements such as deposits to and withdrawals from your bank account. This could reduce the availability to trade during these time periods and will delay the settlement of your trades, deposits, and withdrawals. Not included in the holiday schedule is the cryptocurrency market, as it does not close for holidays, and trading is available.

How can this affect your account specifically?

Trades -For orders submitted on a holiday and the market is closed, you will see this trade order pending until the next market open. This will affect equity orders, treasury bill orders, and alternative asset orders. Additionally, you will not see an updated share price or yield on the position during the holiday, and the order’s price or yield will be based on the previous market’s closed.

Investment Plan- If your investment plan happens to process on a day the market is closed, any equity or treasury investments will not process until the following business day. They will not skip to the next cadence and will process on the next available trading day. Cryptocurrency will proceed as usual.

Portfolio Display- Your portfolio charts will not update during the market close as no pricing changes occur during the holiday. This will also affect the unrealized profit/loss displayed to you as that will be based on the previous market close. In the event that the market is open for a shortened time frame, you will see this update during the limited hours.

Stock prices or asset prices: these will not fluctuate or show movement while the market is closed.

Deposits- Federal holidays are not settlement days, and banks are also closed. Banks typically follow the Federal Reserve’s holiday schedule, and a deposit to your Public account may take longer to settle as a holiday does not count for the 7-business day hold. A deposit placed on a holiday will show as pending or postponed until the next business day. While this does not typically affect your ability to use the funds as buying power, it will take longer to remove funds from your bank account and for the deposit to settle in your Public account.

Wire transfers- no transfers (in or out of Public) are available on holidays.

Settlement times: Federal holidays are not considered settlement dates for trading. Trades for equities settle after the Trade date plus two business days (called T+2), and Treasury purchases settle after the Trade date plus one business day (T+1). Cryptocurrency settles on the same day but takes two business days to settle for withdrawal. Holidays in which the market is closed are not considered settlement days.

Withdrawals- Before you can withdraw to your bank account, the funds in your Public account need to settle. A trade settles in two business days from the executed date, and a pending deposit takes 7 business days to settle. If there is a holiday during the settlement period, the settlement will be delayed.

For example: If you placed a trade to sell on Friday, and the following Monday was a holiday, the trade would not settle until Wednesday due to the delay. If you made a deposit into Public on a Monday, and there was a holiday on Tuesday, your funds may not settle until the following Thursday.

If you withdraw settled funds, you should expect this to process in 3-5 business days, excluding the holiday.

Instant Withdrawals- For settled funds, instant withdrawals can be processed on a Federal holiday and can be received the same day. However, your bank may not display the receipt of those funds right away, and you may not see that available in your bank until the next business day.

Brokerage Transfers (ACATs)- A brokerage transfer can be submitted anytime, including Federal holidays. A Federal holiday will not be included as a processing day for the transfer. Any brokerage transfers expected to arrive near a holiday will be delayed until the next business day.

Additional Delays- In the event of the death of a sitting or past president, a National Day of Mourning is declared (typically the day of the funeral), and Public will publish a revised trading schedule in alignment with market schedules.

Our team is always here to help and welcome any questions you have in anticipation of the upcoming holidays and how they may affect your account, and any decisions you may have for your account. We encourage you to plan ahead and prepare for any unexpected withdrawal needs ahead of time to ensure the timely receipt of your funds.

Please reach out to our Member Support team via chat or email at support@public.com.

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