US financial industry business continuity exercise takes place
- Published: Monday, 26 October 2015 07:44
As part of the ongoing financial industry backup site testing initiative that began in 2003, SIFMA led an industry-wide business continuity exercise on Saturday, October 24th, 2015.
The exercise aimed to test the financial industry's ability to ‘operate through a significant emergency using backup sites, recovery facilities and backup communications capabilities.’
Industry-wide exercises follow a consistent format whereby firms submit test orders and transactions from their backup sites to markets and utilities.
All major US-based exchanges, markets and industry utilities were invited to take place and the exercise involved test transactions for commercial paper, equities, options, futures, fixed income, settlement, payments, Treasury auctions and market data.