Each fall, SIFMA’s Annual Meeting gathers the most influential voices shaping today’s capital markets. Through candid one-on-one conversations and expert panel discussions, we assess challenges and gain insights into opportunities ahead.

Find out what is top of mind for market participants: register today to join us on November 18-19, 2019 at the JW Marriott in Washington, DC.

Washington, D.C., September 17, 2019 – SIFMA today issued the following statement from President and CEO Kenneth E. Bentsen, Jr. on the NPR issued by the FDIC on swap margin requirements:

“SIFMA appreciates the continuing efforts by regulators to review rules, regulations and practices to identify those areas which can be simplified, harmonized and streamlined to eliminate unnecessary inconsistencies and overlap.  SIFMA believes exempting inter-affiliate swaps from the initial margin requirement is a beneficial step, as it unlocks liquidity for investments which contribute to economic growth.  It is important to note that these swaps would remain subject to variation margin and central risk management.

“Today’s action eliminates what was an unnecessary redundancy inconsistent with other regulators in the U.S., notably the CFTC and SEC, and abroad.  Further, aligning the uncleared margin phase in with BCBS IOSCO’s amended timeline and...

Join sell-side, buy-side, exchange and regulatory leaders in New York City on September 18 for a robust discussion on the state of the options industry, market structure and the investor sentiment in the listed options markets.

In addition to market structure, this half-day program will examine emerging technologies, risk, and regulation and how customers, firms and market makers view today’s listed options market.

View the full program

The U.S. Securities and Exchange Commission (SEC) is creating a Consolidated Audit Trail (CAT) that would enable regulators to track all activity throughout the U.S. for listed-equities and options.

On September 16, 2019, SIFMA and Deloitte will host an industry conference in New York City, from 8:00 a.m. to 12:30 p.m., that will describe in detail the reporting requirements and what firms (CAT Reporters) should consider to ensure a successful implementation of the CAT.

The conference will include a Regulatory Perspective and discussions on Technical Specifications and Project Management. Webinar option also available.

Download SIFMA’s recently published Firm’s Guide to the Consolidated Audit Trail, developed with Deloitte.

Equity issuance, including common and preferred shares, totaled $221.2 billion in 2018, a 0.4 percent increase year-over-year. Initial public offering (IPO) volume, excluding closed-end funds, was $49.9 billion in 2018, up 27.1 percent from $39.2 billion in 2017. Follow-on, or secondary, issuance totaled $154.6 billion in 2018, down 0.3 percent from 2017. Issuance of corporate debt, asset-backed securities and non-agency mortgage-backed securities totaled $2.2 trillion in 2018, down 11.8 percent from 2017. Non-convertible corporate debt issuance fell 18.9 percent to $1.3 trillion in 2018, while convertible corporate debt increased 41.8 percent to $38.6 billion. Nonagency mortgage-backed securities grew 20.5 percent to $269.9 billion in 2018, while asset-backed securities issuance volume fell 6.1 percent to $516.9 billion. U.S. long-term municipal bond issuance totaled $338.3 billion in 2018, a 24.5 percent decrease from $448.0 billion in 2017. Of the total, 58.2 percent was...

Diversity and inclusion initiatives remain a top priority for financial services firms. At SIFMA’s 2019 Diversity & Inclusion Conference, attendees and speakers advanced the D&I journey. To learn more, visit http://bit.ly/2wZoP5Y.

Washington, D.C., September 5, 2019 – SIFMA issued the following statement from President and CEO Kenneth E. Bentsen, Jr. on the housing reform plan announced today:

“SIFMA appreciates the focus of the Department of Treasury, HUD, and the broader Administration on housing finance reform.  We believe an explicit government guarantee is necessary to ensure a stable supply of available mortgage credit. This is particularly critical to maintain 30-year mortgages.  Further, we believe it is essential to maintain the benefits of the to be announced (TBA) market, which provides mortgage borrowers the ability to lock in rates at low or no cost, as well as mitigates interest rate volatility risk.  We will continue to review the plan with our members.”

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SIFMA is the leading trade association for broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets. On behalf of our industry’s nearly 1 million...

Equity issuance, including common and preferred shares, totaled $221.2 billion in 2018, a 0.4 percent increase year-over-year. Initial public offering (IPO) volume, excluding closed-end funds, was $49.9 billion in 2018, up 27.1 percent from $39.2 billion in 2017. Follow-on, or secondary, issuance totaled $154.6 billion in 2018, down 0.3 percent from 2017. Issuance of corporate debt, asset-backed securities and non-agency mortgage-backed securities totaled $2.2 trillion in 2018, down 11.8 percent from 2017. Non-convertible corporate debt issuance fell 18.9 percent to $1.3 trillion in 2018, while convertible corporate debt increased 41.8 percent to $38.6 billion. Nonagency mortgage-backed securities grew 20.5 percent to $269.9 billion in 2018, while asset-backed securities issuance volume fell 6.1 percent to $516.9 billion. U.S. long-term municipal bond issuance totaled $338.3 billion in 2018, a 24.5 percent decrease from $448.0 billion in 2017. Of the total, 58.2 percent was...

New York, N.Y., August 20, 2019 — SIFMA has confirmed its previous holiday recommendation for a full market close on Monday, September 2 for the trading of U.S. dollar-denominated fixed income securities in the U.S., the U.K., and Japan in observance of the U.S. Labor Day 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.

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.

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SIFMA is the leading trade association for broker-dealers, investment banks...

The SIFMA Fintech Conference examines the impact of emerging technology on the capital markets and how to innovate within existing regulatory frameworks.

Join innovators and industry leaders on September 25 in New York City to discuss issues across risk, operations and compliance and how you can ensure successful fintech implementation.

Early bird rates available until August 23 – view the program and register today!

Stay tuned for more speaker announcements coming soon.

In this episode of “The View from Washington,” outgoing Municipal Securities Rulemaking Board (MSRB) President and chief executive officer Lynnette Kelly and Chair of the Board Gary Hall sit down with SIFMA President and CEO Kenneth E. Bentsen, Jr. to discuss the landscape for municipal securities. From the Retrospective Rule Review to moving to the cloud, watch their discussion for insight into the primary regulator of the municipal securities markets and what matters most for the marketplace.

New York, N.Y., August 20, 2019 — SIFMA has confirmed its previous holiday recommendation for a full market close on Monday, September 2 for the trading of U.S. dollar-denominated fixed income securities in the U.S., the U.K., and Japan in observance of the U.S. Labor Day 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.

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.

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SIFMA is the leading trade association for broker-dealers, investment banks...