SIFMA Recommends a Full Market Close on September 19, 2022, in the U.K. in Honor of a National Day of Mourning for Queen Elizabeth II

 New York, N.Y., September 14, 2022 — SIFMA today recommended for the trading of U.S. dollar-denominated fixed income securities in the U.K a full market close on September 19, 2022, in honor of the National Day of Mourning for Queen Elizabeth II.  SIFMA also expresses its deepest condolences to the Royal Family for their loss on behalf of our members.

SIFMA is issuing no other settlement recommendations with respect to other fixed income products, including but not limited to, settlement dates for repurchase and reverse repurchase transactions. Settlements in municipal and corporate securities will not be affected given that DTCC/NSCC will remain open on September 19, 2022.

SIFMA’s trading recommendations apply to transactions of U.S. dollar denominated U.S. Government and agency 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.

SIFMA’s recommended full market closes are recommendations only. Each member firm should decide for itself whether its fixed-income departments remain open for trading. For example, notwithstanding the recommended full market close, some amount of trading activity in the commercial paper markets may take place to provide liquidity for corporate issuers.

All SIFMA recommendations are subject to change due to market conditions.

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SIFMA is the leading trade association for broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets. On behalf of our industry’s one million employees, we advocate on legislation, regulation and business policy affecting retail and institutional investors, equity and fixed income markets and related products and services. We serve as an industry coordinating body to promote fair and orderly markets, informed regulatory compliance, and efficient market operations and resiliency. We also provide a forum for industry policy and professional development. 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 http://www.sifma.org.