Exchanges yet to set Ford commemoration plans

NEW YORK (Reuters) - U.S. financial exchanges continued to wait on Thursday morning for official word on a national day of mourning for former President Gerald Ford before announcing plans for observing the death of the 38th U.S. president.

The exchanges have historically closed on a national day of mourning for a former U.S. president, such as on June 11, 2004, for former President Ronald Reagan. Official details for the mourning of Ford had not been announced by Thursday morning.

"We are waiting for the government to make an official executive order and declare a Federal holiday," New York Stock Exchange (NYX.N) spokesman Christiaan Brakman said. "That is the appropriate order when you have a presidential ceremony that involves many different parties."

President George Bush said on Wednesday that he planned to select a national day of mourning for Ford, but did not specify a date.

The Nasdaq Stock Market (NDAQ.O) and New York Mercantile Exchange (NMX.N) also said they are waiting for official details before announcing commemoration plans.

If the exchanges close next week to commemorate Ford, they would do so during an already holiday-shortened week with New Year's Day on Monday, causing speculation that there may be reluctance to close for a second full day.

But Rob Hegarty, managing director at Boston consultant TowerGroup, doubts the exchanges would close for less than a full day in commemoration of Ford.

"Historically the exchanges close for a full day," he said. "This does present a bit of a difficult situation with the New Year's holiday but they may not be able to part with that tradition."