Web used to keep investors abreast

NEW YORK: The self-styled financial capital of the world suspended

stock and commodities trading following the September 11 blast that

leveled the World Trade Center (WTC), the headquarters for many

financial companies that was only blocks from the New York Stock

Exchange (NYSE) and other major financial buildings and facilities.

At press time, the NYSE and NASDAQ exchange, located in Times Square,

planned to resume trading no later than Monday, September 17.

Both companies kept their websites updated to communicate with national

and international traders. The NYSE encouraged employees and member firm

personnel not to report to work unless notified.

Financial companies formerly housed in the WTC were insurance firm Marsh

& McLennan, bond firm Cantor Fitzgerald, business media company

Bloomberg, brokerage Morgan Stanley, mutual fund manager Oppenheimer,

Charles Schwab, and Citigroup Asset Management.

Websites were the primary mode of communication for all affected

companies, many of which set up phone numbers for employees and/or their


Morgan Stanley, though headquartered in Times Square, was the

third-largest tenant in the WTC. The firm had 3,500 employees on 25

floors. Company chairman Philip Purcell issued a statement expressing

his sadness and outrage, sympathies and prayers. He also said, "The

shocking events of this week at the World Trade Center have not posed a

financial problem for Morgan Stanley, but a deeply human one. What

dominates our concerns are those people who may not have escaped the

explosion and fires as the twin towers collapsed."

Company communications also assured customers, such as a message posted

to the OppenheimerFunds website: "We do want to assure you that your

OppenheimerFunds accounts are secure. All records are kept at our Denver

facility, and are backed up daily."

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Already registered?
Sign in