FIA wrote in support of the US Federal Reserve's Expansion of Fedwire Funds Service and National Settlement Service Operating Hours proposal.
In the letter, FIA suggests the Fed should extend 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.
