Prime Minister Justin Trudeau has announced a federal holiday on September 19 for the funeral of Queen Elizabeth II.
However, Canada’s financial markets will remain open as usual on the day of the Queen’s funeral. The TSX Venture Exchange and TSX Alpha Exchange will each follow normal trading hours on September 19.
Payments Canada, which runs the country’s payment clearing and settlement infrastructure, said it will also be operational on the day of the Queen’s funeral.
However, the Bank of Canada is planning to alter its bond auction schedule with a planned 10-year bond auction being moved to September 22 and a scheduled five year bond auction to now be held on September 26.
The federal government said that federally regulated companies including banks, life insurers, telecommunications companies, and transportation firms won’t be required to close on September 19 but can choose to do so.
Trudeau said the federal holiday is appropriate as the British monarch is Canada’s head of state.
Among Canada’s provinces, Ontario and Quebec each said that they will not declare a holiday on September 19.
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