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Stock and derivatives exchanges will remain open despite extraordinary volatility in global financial markets, the World Federation of Exchanges (WFE) said on Thursday.

“Even as our present crisis causes large swings in markets and operational pressure on market infrastructures, these functions remain critically important,” the WFE said in a statement.

“It is important that markets remain open and that the hours of trading remain as normal, to preserve the benefits of price formation and access to liquidity for society.”

The WFE represents exchanges and clearing houses from across the world, including CME, Nasdaq, Shanghai Stock Exchange, Japan Exchange and Deutsche Boerse.