June 22, 2020 - In observance of Independence Day, the Loan Syndications and Trading Association (LSTA) recommends treating Friday, July 3, 2020 as a loan market holiday for purposes of calculating delayed compensation under the LSTA standard forms of trade confirmation.
Delayed compensation accrues on loan market trades that do not settle within a set number of business days after trade date. Business days do not include Saturdays, Sundays or any day the Federal Reserve Bank of New York is closed. In addition, solely for purposes of determining the commencement date for delayed compensation, business days do not include any day on which the New York Stock Exchange is closed. The New York Stock Exchange will be closed on Friday, July 3rd in observance of Independence Day.