FIA has written in support of the US Federal Reserve's proposal to expand the operating hours of the Fedwire Funds Service and the National Settlement Service.
In its letter, FIA suggests the Fed should extend the operating hours of the Fedwire Securities Service to align with the expanded hours of the Fedwire Funds Service and National Settlement Service. It also discusses the importance of a reasonable implementation period, changes that may be needed to rules and practices at federal market regulators, self-regulatory organisations and market operators, and the importance of an open forum to discuss the potentially significant cascading effects of expanding the operating hours.
Read the comment letter in full.
