IOSCO report captures lessons from the operational resilience of trading venues and market intermediaries during the pandemic

Published: Tuesday, 12 July 2022 08:17

The Board of the International Organization of Securities Commissions (IOSCO) has published a report that describes the impact of the COVID-19 pandemic on the operations of trading venues and market intermediaries and concludes that these regulated entities largely proved to be operationally resilient.

Definition of operational resilience

In the report, IOSCO defines operational resilience as the ability of a regulated entity to deliver critical operations through a disruption, which it says is consistent with other international definitions. The existing IOSCO operational resilience principles, recommendations and guidance provide the core structure for regulated entities and regulators when considering operational resilience, and the findings in this report suggest this framework has worked well.

Opportunities for operational resilience improvement

However, the pandemic has also highlighted opportunities for regulated entities to learn how to improve their operational resilience. The report therefore sets out some observations and identifies lessons learned from how regulated entities responded during the pandemic to help inform future operational resilience arrangements including:

Read the ‘Operational resilience of trading venues and market intermediaries during the COVID-19 pandemic & lessons for future disruptions’ report (PDF).