SIFMA issues date for 2018 industry-wide business continuity test
- Published: Wednesday, 07 March 2018 08:31
The US Securities Industry and Financial Markets Association (SIFMA) has announced that its next industry-wide business continuity test will take place on Saturday October 13th 2018.
The annual test aims 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. It is a validation of market connectivity and interactive processing but is not a full test of internal systems of firms, exchanges and market utilities.
110 securities firms and 62 market organizations took part in the 2017 test and approximately 1,100 communications connections were established between securities firms and banks and the exchanges, markets and utilities. Test transactions on these connections were successful 98 percent of the time.