Treasury Market Practices Group And SIFMA Reaffirm Endorsement Of Updated Securities Delivery Closing Time Practices, Effective July 1

The Treasury Market Practices Group (TMPG) and the Securities Industry and Financial Markets Association (SIFMA) today reaffirmed their recommendation that market participants adopt updated closing time practices for delivering Fedwire-eligible securities, effective July 1, 2009. The TMPG and SIFMA finalized this practice guidance last month in an effort to remedy asymmetries in existing market conventions. Please refer to the document titled “Recommended Closing Time Practices for Delivering Fedwire-Eligible Securities” published on May 28, 2009 for additional details on the closing time practice recommendation.