SIFMA has confirmed its previous holiday recommendations for the U.S., the U.K., and Japan in observance of the New Year’s Day holiday.
United States
SIFMA recommends an early close at 2:00 p.m. EST on Wednesday, December 31, 2025, and a full market close on Thursday, January 1, 2026, for the trading of U.S. dollar-denominated fixed income securities in observance of the New Year’s Day holiday.
United Kingdom
SIFMA has confirmed its previous recommendation for a full market close on Thursday, January 1, 2026, for the trading of U.S. dollar-denominated fixed income securities in observance of the New Year’s Day holiday.
Japan
SIFMA recommends full market closes on Wednesday, December 31, 2025, and Thursday, January 1, 2026, for the trading of U.S. dollar-denominated fixed income securities in observance of the New Year’s Day and Bank Holiday.
These 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.
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.
