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September 12, 2002

Traders puzzled by eery S&P close

CHICAGO (Dow Jones/AP) -- In an ironic twist, the September Standard & Poor's 500 futures contract closed Tuesday at 911.00 -- a day before the one-year anniversary of the terrorist attacks.

There was some buzz on the Chicago Mercantile Exchange stock index futures trading floor Wednesday about why that happened, but there were no reports of collusion or price-fixing.

"It was bizarre, it was strange, but it wasn't manufactured," said Richard Canlione, vice president of institutional financial futures at Salomon Smith Barney. "It was just the rules of coincidence ... That's just where the market was."

"It just proves the market God was with us, remembering the day, too," said one CME trader.

The start of trading was delayed Wednesday in honor of those killed in the attacks.




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