SIFMA Recommends Full Market Close on July 3 in Observance of the Independence Day Holiday

Release Date: June 24, 2015
Contact: Liz Pierce, 212-313-1173, [email protected]

SIFMA Recommends Full Market Close on July 3 in Observance of the Independence Day Holiday

New York, N.Y., June 24, 2015— SIFMA has confirmed its previous recommendation for a full market close on Friday, July 3 (observed), for the trading of US dollar-denominated fixed-income securities in the United States, the United Kingdom and Japan in observance of the U.S. Independence Day Holiday. However, SIFMA notes that a number of primary dealers intend to provide limited staffing on funding desks on Friday, July 3, in order to accommodate any potential open-market operations by the Federal Reserve Bank of New York.

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.

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