What is industry-wide testing?
Industry-wide tests follow a consistent format whereby firms submit test orders and transactions from their backup sites to markets and utilities. The test is supported by all major exchanges, markets and industry utilities.
What is SIFMA test?
Securities Industry and Financial Markets Association (SIFMA) leads and OCC participates in an annual industry-wide business continuity test to exercise and verify the ability of firms, markets and utilities to operate through an emergency using backup sites, recovery facilities and backup communication capabilities …
What does sifma stand for?
The Securities Industry and Financial Markets Association
The Securities Industry and Financial Markets Association (SIFMA) is a United States industry trade group representing securities firms, banks, and asset management companies.
How many employees does sifma have?
On behalf of our industry’s nearly 1 million employees, we advocate on legislation, regulation and business policy affecting retail and institutional investors, equity and fixed income markets and related products and services.
Is sifma a nonprofit?
The Securities Industry and Financial Markets Association (SIFMA) is a not-for-profit trade association that represents securities brokerage firms, investment banking institutions, and other investment firms. SIFMA represents firms of all sizes in all financial markets in the U.S. and around the globe.
Where is sifma located?
Located at 120 Broadway, a National Historic Landmark and a New York treasure, the SIFMA Conference Center is situated at the heart of New York’s Financial District.
What is the sifma rate?
SIFMA Rate means a rate equal to the index of the weekly index rate resets of tax- exempt variable rate issues included in a database maintained by Municipal Market Data, a Thomson Financial Services Company, or its successors, which meet specific criteria established by The Securities Industry and Financial Markets …
Is sifma a regulator?
SIFMA is the leading trade association for broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets. We serve as an industry coordinating body to promote fair and orderly markets, informed regulatory compliance, and efficient market operations and resiliency.
How is sifma calculated?
The SIFMA Index is usually 64%-70% of its taxable equivalent three-month LIBOR. For example, assume the three-month LIBOR is 2.29%, and the SIFMA rate is approximately 67.5% of the three-month LIBOR, the SIFMA rate can be calculated to be 0.675 * 2.29% = 1.55%.
What is a sifma swap?
WHAT IS THE SIFMA MUNICIPAL SWAP INDEX? The Securities Industry and Financial Markets Association Municipal Swap Index is a 7-day high-grade market index comprised of tax-exempt Variable Rate Demand Obligations (VRDOs) with certain characteristics. The Index is overseen by SIFMA’s Municipal Swap Index Committee.
What is sifma foundation?
The SIFMA Foundation is dedicated to fostering knowledge and understanding of the financial markets for individuals of all backgrounds. Provides the essential tools to help individuals increase their understanding of personal finance and make sound decisions that underpin lifelong success. …
What is a sifma rate?
Who are the participants in the SIFMA test?
Participants in the SIFMA test included approximately 110 securities firms and 80 market organizations. During the test approximately 1,100 communications connections were establish between securities firms and banks and the exchanges, markets and utilities. Test transactions on these connections were successful 98% of the time.
Is the SIFMA industry test parallel to Reg sci?
Reg SCI entities completed their testing requirements in parallel with the SIFMA industry test. This presentation outlines the difference between the two test programs and implications on how market participants approach this year’s testing programs.
What does SIFMA do for the securities industry?
SIFMA is the voice of the nation’s securities industry. We advocate for effective and efficient capital markets. The U.S. securities industry raised $2.7 trillion of capital for businesses through corporate debt and equity issuance activity, a 60.4% increase from the prior year.