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SIFMA has updated its recommendations for the trading of U.S. dollar-denominated fixed income securities in the U.K. to reflect the U.K.’s decision to move the early May bank holiday in 2020 from Monday, May 4 to Friday, May 8 to mark the 75th anniversary of Victory in Europe (VE) Day. Specifically, SIFMA recommends a full market close for the trading of U.S. dollar-denominated fixed income securities in the U.K. on Friday, May 8, 2020 for U.K. May/VE Day.
This recommendation applies to the 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 2020 U.K. holiday recommendations is listed on SIFMA’s Website at https://www.sifma.org/resources/general/holiday-schedule.
