Release Date: April 11, 2011
Contact: Liz Pierce, (212) 313-1173, firstname.lastname@example.org
SIFMA Recommends Early Market Close on April 21 and a Full Market Close on April 22 for Trading of US Dollar-Denominated Fixed-Income Securities in the US in Observance of the Good Friday Holiday
New York, N.Y., April 11, 2011 — SIFMA has confirmed its previous recommendations for an early close at 2:00 p.m., EST, on Thursday, April 21, and a full market close on Friday, April 22 for the trading of US dollar-denominated fixed-income securities in the United States in observance of the Good Friday Holiday. However, SIFMA notes that a number of primary dealers intend to provide limited staffing on funding desks on Friday, April 22, in order to accommodate any potential open-market operations by the Federal Reserve Bank of New York.
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 (SIFMA) brings together the shared interests of hundreds of securities firms, banks and asset managers. SIFMA's mission is to develop policies and practices which strengthen financial markets and which encourage capital availability, job creation and economic growth while building trust and confidence in the financial industry. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA). For more information, visit www.sifma.org.