|Taro, look at my proposed wording. |
If the market is closed on a Friday, which happens every year for Good Friday, and you only replace it "after" as you propose, we would trade 2 consecutive days, Monday and Tuesday following a closed Friday. I avoided that with general wording which applies for almost all situations.
If there is an unusual situation not covered by my proposed wording, Elroy can always rule for that unusual situation.
The Friday after (U.S.) Thanksgiving is not closed. The markets close at 1:00 PM and our contest deadline for trading that day is before the market closes. Same for any other trading day that ends early, either as scheduled or due to the circuit breakers kicking in or some other emergency (the markets closed early on 11/22/1963).
It happens that if the markets were closed the day after Thanksgiving, and we adopt the proposed rules change, the trading day would be skipped because the prior Wednesday would be only a day after the Tuesday trading, and the following Monday would be only a day before the next Tuesday trading. I don't want trading two days in a row.
The markets are almost never closed for 4 days in a row. It happened 9/11/2001 - 9/14/2001, but otherwise never.
The situation comes up at the end of this year, unless we are between rounds. The markets are closed Tuesday, Dec 25 and Tuesday, Jan 1, and the proposed rule would have trading on Wednesday, Dec 26 and Jan 2 rather than skip to Dec 28 and Jan 4, 2013.