Fedwire Securities Service shift opening time for Book-Entry Securities Transfers
December 14, 2020
Effective on Monday, May 10, 2021, the Federal Reserve Banks will shift the opening of the Fedwire Securities Service for processing of securities transfers from 8:25 a.m. to 8:30 a.m. ET in alignment with the published opening time in Appendix B, Operating Circular 7 (PDF)1.
As a result of this opening time change, any securities transfer messages initiated by Fedwire Securities Service participants and service providers that are queued for processing by the Fedwire Securities Service prior to the opening will be processed upon the service opening at 8:30 a.m. ET. Fedwire Securities Service participants and service providers will continue to have the opportunity to queue transfer messages beginning at 8 a.m. ET on each business day. The shift to the published opening time for securities transfer processing will not affect the operating hours for book-entry securities transfers (see Appendix B, Operating Circular 7) or other activities sent or processed through the Fedwire Securities Service, such as Securities Transfer Startup broadcast, distribution of principal & interest payments and online inquiry transactions.
If you have questions regarding this communication, please contact your designated Wholesale Operating Sites.
1The Reserve Banks established a practice to open the Service at 8:25 a.m. ET to provide a 5-minute buffer to ensure operational readiness of the legacy technology stack and associated processes ahead of the published opening time. The Fedwire Securities Service’s current technology stack and associated processes no longer require such a buffer.