13 Oct 2008

Markets must remain open, says federation

2:38 pm on 13 October 2008

The board of directors of the World Federation of Exchanges said on Sunday that market trading must not be suspended as a way to cope with global financial turmoil.

Federation members account for more than 97% of world stock market capitalisation.

The White House on Sunday knocked down a British newspaper report that the United States was considering suspending trading in bank stocks, saying there was no change in US policy against market intervention.

The Sunday Telegraph reported that trading in banking shares across the Group of Seven leading industrial nations, could be suspended on Monday.

The G7 comprises the United States, Germany, France, Japan, Canada, Britain and Italy.