SIFMA Confirms And Updates 2020 Recommendations For Full And Early Holiday Closes In Japan

SIFMA has confirmed its previous 2020 holiday recommendations and made updates to include full market closes on Monday, February 24 in observance of the Emperor’s Birthday; Friday, March 20 for Vernal Equinox Day; Wednesday, May 6 in observance of Constitution Day; Friday, July 3 for U.S. Independence Day; Friday, July 24 for Health and Sports Day; and Tuesday, September 22 for Autumnal Equinox for the trading of U.S. dollar-denominated fixed income securities in Japan.

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. Early closes will not affect the closing time for settlements.

The full 2020 and 2021 holiday recommendations for the U.S. and U.K. are listed on SIFMA’s Website at http://www.sifma.org/services/holiday-schedule/.