SIA releases report into business continuity test

In October 2005, the Securities Industry Association (SIA), the Bond Market Association (TBMA), the Futures Industry Association (FIA) and the Financial Information Forum (FIF) conducted an industry-wide business continuity planning test. This was part of an ‘extensive, ongoing and industry-driven initiative to verify and demonstrate the resilience of the securities markets’. The test, which expanded on prior connectivity tests, included components for equities, fixed income, options, futures and settlement.

During the test, firms and service bureaus accounting for more than 80 percent of the market’s normal order volume connected simultaneously using backup data centers, backup communications links, alternate trading sites and alternate operations facilities to place test orders, executions and settlement interactions.

SIA has now made the detailed results of the test publicly available, although individual outcomes have not been identified. Overall, issues were encountered on approximately 5 percent of the test connections, with the main reasons for difficulties being related to connectivity issues, such as incorrect IP addresses and firewall settings.

Read the report here (PDF)

•Date: 23rd Feb 2006• Region: US • Type: Article •Topic: Financial sector
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