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IFMA has confirmed its previous recommendations for an early close at 2:00 p.m., EST, on Wednesday, December 24 and a full market close on Thursday, December 25 and for the trading of US dollar-denominated fixed-income securities in the US in observance of the Christmas Holiday. SIFMA's holiday recommendations are not impacted by the recent Executive Order that names December 26 a holiday for most federal workers. SIFMA is recommending, consistent with past practice in such circumstances, that the market open on Friday, December 26.
These recommendations apply 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.
The early close will not affect the closing time for settlements.
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.
