The Securities Industry and Financial Markets Association has recommended an early close at 2:00 p.m., EST, on Tuesday, January 2, 2007 for the trading of U.S. dollar-denominated fixed-income securities in the U.S. in honor of former U.S. President Gerald Ford.
SIFMA’s trading recommendations apply to transactions of U.S. dollar-denominated U.S. Government and agency 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.
The New York Stock Exchange will make its own market recommendation Friday morning, and SIFMA will note that announcement, and others, as events warrant.
SIFMA’s recommended early 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.
