Press Releases

Release Date: August 14, 2007
Contact:
Katrina Keller, (646) 637-9281, kkeller@sifma.org

SIFMA Recommends Early Market Close on August 27 and Full Market Close on September 3 for Trading of US Dollar-Denominated Fixed-Income Securities in Japan in Observance of the UK Summer Bank and US Labor Day Holidays, Respectively

New York, N.Y., August 14, 2007 — The Securities Industry and Financial Markets Association has confirmed its previous recommendations for an early market close at 3:00 p.m., JST, on Monday, August 27, and a full market close on Monday, September 3, for the trading of US dollar-denominated fixed-income securities in Japan in observance of the UK Summer Bank and US Labor Day Holidays, respectively.

These recommendations apply to trading of US dollar-denominated government securities, mortgage- and asset-backed securities, over-the-counter investment-grade and high-yield corporate bonds, municipal bonds and secondary money market trading in bankers’ acceptances, commercial paper and Yankee and Euro certificates of deposit.

The early close will not affect the closing time for settlements.

SIFMA’s recommended early and full market closes are recommendations only; each member firm should decide for itself whether its fixed-income departments remain open for trading.  All SIFMA recommendations are subject to change due to market conditions.

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The Securities Industry and Financial Markets Association brings together the shared interests of more than 650 securities firms, banks and asset managers. SIFMA's mission is to promote policies and practices that work to expand and perfect markets, foster the development of new products and services and create efficiencies for member firms, while preserving and enhancing the public's trust and confidence in the markets and the industry. SIFMA works to represent its members’ interests locally and globally. It has offices in New York, Washington D.C., and London and its associated firm, the Asia Securities Industry and Financial Markets Association, is based in Hong Kong.