Release Date: December 20, 2012
Contact: Liz Pierce, (212) 313-1173, email@example.com
SIFMA Recommends Early Market Close on December 24, Full Market Close on December 25, and Early Market Close on December 31, Full Market Close on January 1, 2013 for Trading of US Dollar-Denominated Fixed-Income Securities in the US in Observance of the Christmas Day and New Year’s Day Holidays, Respectively
New York, N.Y., December 20, 2012 — SIFMA has confirmed its previous recommendations for an early close at 2:00 p.m., EST, on Monday, December 24, a full market close on Tuesday, December 25, an early close at 2:00 p.m. EST, on Monday, December 31 and a full market close on Tuesday, January 1, 2013 for the trading of US dollar-denominated fixed-income securities in the United States in observance of the Christmas Day and New Year’s 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 closes 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.