DTCC Comment On SIP Efforts To Align Around Standard Trading Day Hours

The Securities Information Processors (SIP) Operating Committees have announced plans to submit an amendment to the SEC to extend their operating hours. Under the proposal, the SIPs would operate from 8:00 PM ET on Sundays through 8:00 PM ET on Fridays, excluding holidays, with one technical pause occurring each day.

Val Wotton, Managing Director and General Manager of NSCC, DTC, and DTCC Institutional Trade Processing, praised the initiative, stating:

“We commend the SIP on their efforts to align around standard trading day hours. We will continue to work with SIFMA, regulators and the industry to support the alignment of extended trading hours and any required changes to post-trade processes. Extending clearing hours will deliver increased client value by maximizing liquidity and reducing counterparty risk as our equities clearing corporation, NSCC, will be able to apply its central counterparty guarantee to overnight activity across different time zones for global participants, further strengthening the safety and soundness of the markets.”