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SIFMA Updates 2019 And 2020 Fixed Income Recommendations For Full Closes In Japan

Date 22/01/2019

SIFMA has updated its recommendations to include additional full market closes on Tuesday, April 30, 2019; Wednesday, May 1, 2019; Thursday, May 2, 2019; and Tuesday, October 22, 2019 for the trading of U.S. dollar-denominated fixed income securities in Japan pursuant to the Japan enforcement of Act No. 99 of 2018 designating additional holidays for the Imperial accession celebration.

SIFMA has also updated its recommendations for full market closes in 2020 for the trading of U.S. dollar-denominated fixed income securities in Japan on the new dates of the three holidays that are shifting per the Amended Tokyo Olympic and Paralympic Special Measures Act. Specifically, SIFMA recommends a full market closes on the Physical Fitness Day which will be moved to Friday, July 24, 2020; Marine Day which will be changed to Thursday, July 23; and Mountain Day which will be shifted to Monday, August 10, 2020.

The recommendations apply to trading of U.S. 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 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.

The full 2019 and 2020 holiday recommendations for Japan is listed on SIFMA’s Website at https://www.sifma.org/resources/general/holiday-schedule. All 2020 recommendations for Japan are subject to confirmation by the Bank of Japan.