Press Releases
Release Date: December 12, 2007
Contact:
Katrina Cavalli, (212) 313-1181, kcavalli@sifma.org
SIFMA Recommends Early Market Close on December 24 and Full Market Close on December 25 and an Early Market Close on December 31, 2007, and Full Market Close on January 1, 2008, 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 12, 2007 — The Securities Industry and Financial Markets Association has confirmed its previous recommendation for an early close at 2:00 p.m., EST, on Monday, December 24, and a full market close on Tuesday, December 25, and an early close at 2:00 p.m., EST, on Monday, December 31, 2007, and a full market close on Tuesday, January 1, 2008, 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 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.