NASDAQ reports that it has successfully completed market-wide disaster recovery tests

The NASDAQ Stock Market yesterday announced the completion of two market-wide disaster recovery tests, as part of NASDAQ's ongoing efforts to ensure business continuity. Approximately 50 market participants took part in this initiative, which provided NASDAQ customers with a means to assess their disaster recovery and backup facilities capabilities.

The tests were conducted at NASDAQ's primary technology centre in Connecticut on February 21st, and backup facility in Maryland on April 3rd, 2004.

Through NASDAQ's primary and backup facilities, participating companies
effectively conducted a series of functional tests to check transaction and reporting processes in the event of a disaster. The Saturday tests, which ran
from 8:00 a.m. until 12:00 p.m., included order submission and execution as
well as trade reporting and quote posting among all NASDAQ trading systems.

"We are encouraged by the continued focus on business continuity by market participants and the results of these recent tests. This is a testament to the hard work of the industry since September 11th and the August Blackout. We are confident that through our primary and backup facilities our customers will have the ability to continue trading without threat of downtime or lost transactions in the event of a disaster," commented Steve Randich, chief information officer and executive vice president, NASDAQ.

The tests, which NASDAQ says were highly successful, were completed with zero downtime and were consistent with standard operating procedures.

In March NASDAQ introduced NASDAQ Market Center, a new technologically advanced single trading platform that is fully redundant and incorporates all of NASDAQ's current trading systems on one fast and functionality-driven system. The new trading engine has the full capacity to trade all NASDAQ, NYSE-listed and Amex securities in the event of a crisis.

•Date: 27th April 2004 •Region: N.America •Type: Article •Topic: Financial sector
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