Wall Street Wrestles With Abrupt Arrival of Juneteenth Law
- Most government workers will be granted paid time off Friday
- JPMorgan, UBS are giving U.S. employees floating paid holiday
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Wall Street banks and financial exchanges are grappling with how to observe Juneteenth, the June 19 federal holiday signed into law by President Joe Biden Thursday to commemorate the end of slavery in the U.S.
Most government workers will be granted paid time off June 18 as the holiday falls on Saturday this year, but the same won’t be true for the financial markets. Before deciding whether to close, U.S. exchanges -- primarily the New York Stock Exchange and Nasdaq -- rely on input from several participants including banks, broker-dealers and regulators.