Live disaster recovery exercise takes place at the Colombo Stock Exchange

Published: Tuesday, 07 July 2015 07:50

The Colombo Stock Exchange, Sri Lanka (CSE), has conducted a successful disaster recovery exercise. The stock exchange operated from its disaster recovery site on Friday July 3rd, 2015. All trading and post trade operations took place from the recovery site for a complete market day.

This is the first time such a live exercise has taken place at the CSE and the success of the exercise indicated that the CSE’s business continuity process is dynamic and the disaster recovery facility is fully functional and operational and therefore capable of carrying out all system critical processes in a crisis. The entire exercise was observed and audited by a team of external on-site auditors.

The disaster recovery exercise is expected to be carried out annually.

“This assessment exercise was intended to test the robustness of our systems and processes to withstand any disaster and recover within a reasonable period of time and thereby identify any gaps in our business continuing planning. Our critical systems can be operational within a few hours from our disaster recovery facility. Furthermore our mission critical staff are trained to operate from this remote location,” Assistant general manager of enterprise risk management Mr. Lalin Paranavitana said.

“The market infrastructure of the CSE is state-of-the-art and therefore capable of withstanding any catastrophic incidents and ensuring the return to normal trading activity following a disaster. Our technical team follows a stringent process of contingency planning to ensure that all mission critical functions can operate in the event of unforeseen circumstances,” Chief Information Officer Mr. Chandrakanth Jayasinghe said.