NEW YORK (CNN/Money) - The New York Stock Exchange will honor the late Pope John Paul II with a moment of silence before Friday's opening bell, the exchange said Tuesday.

The remembrance will start at 9:29 a.m. ET and last for one minute before trading begins at the normal time.

The ceremony, scheduled to coincide with Friday's funeral of the late pontiff, is the exchange's way of joining with hundreds of millions of Catholics worldwide in celebrating the head of the Catholic Church, who died Saturday in Rome.

The 84-year-old pontiff, born Karol Wojtyla in 1920 in Poland, had suffered from a number of chronic illnesses, including Parkinson's disease.

He became pope in October 1978, the first non-Italian pontiff in 455 years.

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