Wall Street Prepares Systems for Election Night Trading Surge
- Banks test technology with up to eightfold spike in volumes
- Traders exchange late-night rite of passage for work from home
Voters at a polling station in Manhattan, Kansas on Aug. 4.
Photographer: Doug Barrett/BloombergThis article is for subscribers only.
On Wall Street, it’s considered a rite of passage to spend election night at your desk, teeing up orders and making trades until the wee hours. This year could be even wilder than normal, though many will be experiencing it from home.
With a tight race and President Donald Trump already questioning any outcome that doesn’t have him defeating rival Joe Biden, trading volumes are likely to spike to as much as eight times their normal levels on Nov. 3, according to technology-consulting firm ITRS Group Ltd. That forecast and a spread-out workforce has the biggest banks testing their technology to make sure they can handle the extra flow.