Plans are in place at the London Stock Exchange following the death of Queen Elizabeth II.
The Royal Family announced that the Queen died at Balmoral at the age of 96
Elizabeth II was the nation’s longest-reigning monarch, sitting on the throne for more than 70 years.
She died at Balmoral Castle in Scotland on Thursday (8 September), Buckingham Palace announced.
King Charles III announced that there would be a new bank holiday for the Queen’s funeral.
The exact date of the funeral has yet to be confirmed.
Plans, known as Operation London Bridge, are in place following the death of Elizabeth II dies.
It includes measures for the closure of the stockmarket in London.
Here is what you need to know:
Will the London Stock Exchange close after the Queen’s death?
The stockmarket will not shut on the day that the Queen dies.
However, under Operation London Bridge, the London Stock Exchange will shut on the day of Elizabeth II’s funeral.
A bank holiday has been declared for the former monarch’s funeral.
King Charles approved the plans at the Accession Council.
The date for the funeral has not yet been announced but it is expected around Sunday 18 September or Monday 19 September.
Most of the country would have the day off and the stock market will be closed.
How long would the stock market be closed for?
The London Stock Exchange would be closed on the day of the Queen’s funeral – which is likely Monday, 19 September.
Did the London Stock Exchange open after Queen’s death?
The London Stock Exchange said it will open and trade as normal on Friday (9 September) following the Queen’s death.
It comes as the nation starts a period of mourning to mark the death of its former monarch on Thursday afternoon.
The Exchange confirmed trading will also “close at the normal times” on Friday afternoon.
Trading will continue at the usual times during the national mourning, which is expected to continue for roughly 12 days.
The Exchange did say, however, it will close if a public or bank holiday is announced for England and Wales.
What has the London Stock Exchange said about her death?
On Thursday, the London Stock Exchange Group said: “We are deeply saddened at the passing of Her Majesty Queen Elizabeth II.
“Our sympathies and condolences are with the royal family.”
Currency trading began strongly on Friday morning, with the pound rising by 0.9% to 1.159 against the dollar, slightly arresting its recent tumble, which saw the UK currency hit 37-year lows on Wednesday.
What does it mean if the stock market is closed?
If the London Stock Exchange is closed it means that no trading can be done on the stock market.
What plans are in place for the Queen’s death?
Although plans have been in place for decades in a process dubbed “Operation London Bridge”, a series of documents obtained by political news outlet Politico details the specifics of the protocols when the monarch dies.
The security plan is outlined in full, detailing everything from how news of the monarch’s death will be shared to the public to how quickly Prince Charles will ascend the throne.
It also includes details on what will happen during the 10 days following the Queen’s death, including where her coffin will go, how Prince Charles will spend his first few days as King and how the prime minister will publicly address the news.
The day that the Queen dies will be referred to as D-Day, with every day afterwards referred to as D-Day+1 and D-Day+2 and so on, going up to and including D-Day+10.
The report claimed that a “call cascade” will take place hours after the monarch’s death in order to inform the prime minister, the cabinet secretary, and several senior ministers and government officials of the news.
The prime minister will be told by the Queen’s private secretary, as will the Privy Council Office, with permanent departmental secretaries to be given a script in order to inform other government ministers.
This will reportedly read: “We have just been informed of the death of Her Majesty The Queen,” and ministers will also be told that “discretion is required.”
The cabinet secretary will then send an email to senior civil servants.
The public will be told by an “official notification” which will be delivered by the royal household, according to the documents.