Release Date: October 28, 2012
Contact: Katrina Cavalli, 212.313.1181, email@example.com
SIFMA Early Market Close Recommendations for Hurricane Sandy in the US Markets
New York, N.Y., October 28, 2012 - Due to Hurricane Sandy and severe weather, SIFMA recommends an early close of 12:00pm EST on Monday, October 29, 2012 for the trading of US dollar-denominated fixed-income securities in the United States. SIFMA will continue to monitor conditions (market, weather, infrastructure) to determine any additional recommendations for Tuesday.
This recommendation applies 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.
Info and Updates for Market Participants Here >
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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.