Good Friday 2011 Operations Schedule
Most departments at Pershing will be closed on Friday, April 22, 2011, in observance of the Good Friday holiday. Please note the following details regarding that day’s operations both at our firm and within the financial industry.
Industry and Market Guidelines
Equities and Options
- All U.S. equity markets, including the New York Stock Exchange® (NYSE®) and the NASDAQ® stock market, will be closed on Friday, April 22, 2011.
- Because of the Good Friday holiday, the Options Clearing Corporation (OCC) has advised that the weekly options expiration for Friday, April 22, 2011, will take place on Thursday, April 21, 2011.
- The OCC will be closed on Friday, April 22, 2011.
Fixed Income
- The Securities Industry and Financial Markets Association (SIFMA) recommends a full market close on Friday, April 22, 2011.
- The Fixed Income Clearing Corporation (FICC) will be closed on Friday, April 22, 2011, and there will be no Government Securities Clearing Corporation (GSCC) and Mortgage-Backed Securities Clearing Corporation (MBSCC) trade submissions on that date.
- The Municipal Securities Rulemaking Board (MSRB) will be closed on Friday, April 22, 2011.
- The Federal Reserve Bank of New York will be closed on Friday, April 22, 2011.
Trade Entry and Processing Guidelines
U.S. Equities
- U.S. equity and option orders entered through Pershing’s NetExchange® platforms on Friday, April 22, 2011, will be held for submission until Monday, April 25, 2011.
- U.S. equity and option orders entered via a third-party or proprietary order management system via NetExchange Services™ will be subject to standard holiday restrictions noted below:
- MQ Series and XML/Web Services orders are subject to being held for submission on Monday, April 25, 2011, based on configuration for The Rules Engine® and after-hours message identifiers.
- FIX order processing will not be available.
- Extended-hours trading will not be available on Friday, April 22, 2011.
- There will be no cash trades accepted on Friday, April 22, 2011.
Non-U.S. Equities
- Orders for non-U.S. instruments will be accepted and routed to appropriate market centers on Friday, April 22, 2011. Orders may be executed if they are sent to market centers that are open.
- If these transactions were submitted in NetX360™, they will be viewable on the Order Status screen.
- Orders that are filled Friday, April 22, 2011, will be viewable on the Intraday Activity screen within NetX360.
- Non-U.S. equity orders entered via a third-party or proprietary order management system using FIX messaging will be permitted and routed to the appropriate foreign market.
- Non-U.S. settlements will be processed by the agent banks, as per their respective holiday schedules.
U.S. Fixed Income
- The MSRB mandates that all trades entered on Friday, April 22, 2011, must be reported with a trade date of Monday, April 25, 2011, in the first 15 minutes of Monday, April 25, 2011. You may enter these trades through the Trade Change Management System (TCMS), the Bond Order Entry System (BOES), or via a third-party or proprietary interface using the NetExchange Services platform. The execution time for these trades must be 00:01:00.
- BondCentral® will be unavailable on Friday, April 22, 2011.
- The Fixed Income Clearing Corporation (FICC) will be closed and there will be no Government Securities Clearing Corporation (GSCC) and Mortgage-Backed Securities Clearing Corporation (MBSCC) trade submissions on Friday, April 22, 2011. Please note that the following changes in FICC’s operations and schedules will be in effect:
- GOV Division Real-Time Trade Matching (RTTM) Comparison and Netting
- Comparison System—All Regular Way, When-Issued and Forward Settlement Trades executed on Thursday, April 21, 2011, for settlement Monday, April 25, 2011, or later, should be submitted on Thursday, April 21, 2011, by the normal cut-off time of 8 p.m. (ET)/1 a.m. (GMT)
- Netting System—All netted obligations resulting from compared Regular Way Trades among Netting Members submitted on Thursday, April 21, 2011, will settle on Monday, April 25, 2011.
- All output will be available by 3 a.m. (ET)/8 a.m. (GMT) on Friday, April 22, 2011.
- No trade input will be accepted on Friday, April 22, 2011. Trades targeted for Friday, April 22, 2011, should be submitted on Monday, April 25, 2011, along with trades of that day.
- Mortgage-Backed Securities (MBS) Division Clearing, RTTM and Electronic Pool Notification (EPN) Systems
- File transmission users will receive output files from the afternoon (PM) pass on Thursday, April 21, 2011, according to the normal processing schedule.
- Normal file transmission service (FTS) processing will resume on Monday, April 25, 2011.
- Government Securities Division (GSD) participants with questions should call the GSD Operations Hotline at (212) 855-7600 or (888) 382-2721.
- Mortgage-Backed Securities Division (MBSD) participants with questions should call the MBSD Operations Hotline at (212) 855-7886 or (888) 382-2721.
- There will be no settlement for commercial papers on Friday, April 22, 2011.
Non-U.S. Fixed Income
- Orders for non-U.S. instruments will be accepted and routed to appropriate market centers on Friday, April 22, 2011. Orders may be executed if they are sent to market centers that are open.
- Non-U.S. settlements will be processed by the agent banks, as per their respective holiday schedules.
- Non-U.S. purchase and sale settlement information and customer service will be available on a limited basis on Friday, April 22, 2011.
Mutual Funds
- Mutual fund orders entered through Pershing’s NetExchange platforms on Friday, April 22, 2011, will be held for submission until Monday, April 25, 2011.
- Mutual fund orders entered via an End of Day or Intraday Mutual Fund Order File will not be accepted on Friday, April 22, 2011.
- Mutual fund orders entered via a third-party or proprietary order management system via NetExchange Services will be subject to standard holiday restrictions noted below:
- MQ Series and XML/Web Services orders are subject to being held for submission on Monday, April 25, 2011, based on rules engine configuration and after-hours message identifiers.
Foreign Exchange
- The Foreign Exchange (FX) desk will close at 1 p.m. (ET)/6 p.m. (GMT) on Friday, April 22, 2011, and will resume normal business hours for Monday, April 25, 2011, beginning at 5:30 p.m. (ET)/10:30 p.m. (GMT) on Sunday, April 24, 2011. FX business conducted through Pershing’s NetExchange platforms will follow an identical schedule.
Operational Processing Guidelines
With the exception of NSAT and MFPF, Pershing’s standard files will NOT run on the evening of Friday, April 22, 2011. Any files scheduled to run or refresh weekly on Friday, April 22, 2011, will, instead, be sent with the batch cycle that is run on Thursday, April 21, 2011. These include the following active standard files: ACCF, AMSI, CONC, DESC, GCUS, IMSF, ISCA, ISRC, NTBK, PN7F, SPAT and SREP. Also, due to external job dependencies, the receipt of some standard files is delayed on Friday holidays. Therefore, the following standard files will be delivered on Saturday morning, April 23, 2011: DVRE, PTD1, PTD2, PTD3, PTD6 and RADM. Additionally, any bank activity occurring on Friday, April 22, 2011, will appear in the files sent with the batch run on Monday, April 25, 2011. This affects the banking-related standard files: ACTV, FUND and PSWF. For the NSAT and the MFPF file, it is especially important to take note of the “Run Date” in their headers, as the “Date of Data” does not change on Pershing holidays.
Our Customer Service Teams will not be available to answer your calls on Friday, April 22, 2011. International Purchase and Sales and Clearance Services will operate on a normal holiday schedule, from the hours of 8 a.m. (ET)/1 p.m. (GMT) until 2 p.m. (ET)/7 p.m. (GMT) to provide coverage for international purchase and sales, and local market settlement inquiries.
There will be no sweep, check deposit, check disbursement, non-dollar wire, federal fund wire, journal and Automated Clearing House (ACH) processing on Friday, April 22, 2011.
Federal fund wires, non-dollar wires and check requests entered through asset movement after the cutoff time via the NetExchange systems on Thursday, April 21, 2011, and Friday, April 22, 2011, will be processed on Monday, April 25, 2011.
When using the Bloomberg Link® to enter domestic tickets on Friday, April 22, 2011, please use the Monday, April 25, 2011, trade date. All tickets entered with the April 25, 2011, trade date will be placed in the Domestic Holiday Pending File until Monday, April 25, 2011, when the Bloomberg Link will be available again. At that time, all tickets will be released from the Pending File for processing.
There will be no settlements for Depository Trust and Clearing Corporation (DTCC) and the Federal Reserve by Pershing on Friday, April 22, 2011. Please note that requests for partial deliveries of securities default to next-day settlement. Requests initiated in good order and approved on Thursday, April 21, 2011, as next-day settlement will settle on Monday, April 25, 2011.
All bookkeeping next-day processing functionality entered on Pershing systems on Thursday, April 21, 2011, and on Friday, April 22, 2011, will be viewable on Monday, April 25, 2011.
Special Processing Guidelines for Insufficient Funds
On Friday, April 22, 2011, Resource Checking® Brokerage Checking and Asset Management insufficient funds items will not be delivered via Work Corner in Pershing’s NetExchange platforms. To help you appropriately address these items, the process by which you receive and respond to notifications will be modified between Thursday, April 21, 2011, and Monday, April 25, 2011.
Resource Checking and Brokerage Checking
| Notification Date and Time | Items Will Occur | Response Deadline |
| Thursday, April 21, 2011 1 p.m. (ET)/6 p.m. (GMT) via Work Corner | Friday, April 22, 2011 | Friday, April 22, 2011 11 a.m. (ET)/4 p.m. (GMT) |
| Monday, April 25, 2011 9 a.m. (ET)/2 p.m. (GMT) via Service Center Request | Monday, April 25, 2011 | Monday, April 25, 2011 11 a.m. (ET)/4 p.m. (GMT)—Response required via Service Center Request |
| Monday, April 25, 2011 1 p.m. (ET)/6 p.m. (GMT) via Work Corner | Tuesday, April 26, 2011 | Tuesday, April 26, 2011 11 a.m. (ET)/4 p.m. (GMT) |
| Monday, April 25, 2011* 6:30 p.m. (ET)/11:30 p.m. (GMT) via Work Corner | Tuesday, April 26, 2011 | Tuesday, April 26, 2011 11 a.m. (ET)/4 p.m. (GMT) |