SIFMA Recommends Muni, Other Fixed-Income Markets Open Wednesday

The Securities Industry and Financial Markets Association recommends muni and other fixed income markets open on Wednesday, October 31, after being shut down for a day and a half because of the devastating effects of Hurricane Sandy. SIFMA made the recommendation Tuesday. The group, which recommended an early market close Monday and a full close Tuesday, rarely makes such recommendations. It called for an early close for a hurricane in 1996 and the market was closed for three days for the 9/11 terrorist attacks. SIFMA’s recommendations are not binding on firms. The group said each of its member firms should decide for themselves whether their fixed-income departments remain open for trading. The group said all of its recommendations are subject to change due to market conditions.