Canada stock markets to stay open Monday on Queen's funeral holiday

·2 min read
The facade of the original Toronto Stock Exchange building is seen in Toronto

TORONTO (Reuters) - Canadian stock markets will operate regular hours on Monday even as the country marks a federal holiday on the day of Queen Elizabeth's funeral, but the central bank has rescheduled a bond auction planned for the day.

Canadian Prime Minister Justin Trudeau declared Monday a federal holiday to mourn the monarch's death but many provinces, including the two most populous, Ontario and Quebec, have decided to keep schools and other provincially-regulated institutions open.

Federally-regulated companies including banks, life insurers, telecommunications and transportation firms won't be required to close, Labor Minister Seamus O'Regan said.

Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange and Montréal Exchange will be open for trading, TMX Group Ltd., operator of the Toronto Stock Exchange, said on Sunday.

The Bank of Canada said it will move Monday's planned 10-year bond auction to Thursday, while a 5-year bond auction scheduled for Sept. 22 will now be held on Sept. 26.

Payments Canada, which runs the country's payment clearing and settlement infrastructure, will be fully operational on Monday, and the central bank said it will conduct Securities Repo Operations and Overnight Reverse Repo Operations.

The central bank will conduct all other regular operations on Sept. 19 that support key payment and settlement systems as well as financial markets, it added.

Although Canada ceased being a colony of Britain in 1867, it remained in the British Empire until 1982, and is still a member of the Commonwealth of former empire countries that have the British monarch as head of state. A British-appointed governor-general acts on behalf of the monarch.

The queen visited Canada more than any other country during her reign - 23 times as part of Royal Tours over the course of 70 years.

(Reporting by Denny Thomas; Editing by Daniel Wallis)