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Sixth Market Wide Exercise: UK financial sector

Initial story, 17th December 2010:
The UK financial authorities have started to plan the sixth Market Wide Exercise (MWE). The business continuity exercise will be held in November 2011.

The key objective of the MWE programme is “to improve UK financial sector preparedness by providing opportunities to test, review and update plans to deal with a range of major operational disruptions; both as individual organizations and as part of the sector, including the Tripartite Authorities.”

The last exercise was held in November 2009 and involved 76 participating organizations.

Wide consultation following the exercise indicated that, “whilst there was strong support for the exercise, there was also an appetite for less detailed scenario building with more emphasis on strategic decision making, dependence on suppliers and the return to business as usual.” MWE 2011 will “aim to accommodate that demand”.

The strategy for future Sector Exercising has been published by the Authorities and can be accessed here.

More information will be released in January and in the meantime, any queries regarding MWE 2011 should be directed to mwe_projectoffice@fsa.gov.uk

UPDATE: published w/c 24th January 2011

An update on the Market-wide Exercise 2011 has been published. The key points are:

- The first MWE Project Board was held on the 14 January 2011.
- The next steps are to form the Steering, Scenario Design and Planning groups.
- The scenario is expected to provide an opportunity for relevant firms to assess their Olympic planning preparedness.
- In response to feedback from participants, the scenario will include elements of financial stress, employ less detailed injects and more strategic decision making.
- The exact exercise date is under consideration. The current assumption is that the duration will be one day but this is yet to be confirmed.

UPDATE: 22nd March 2011

The dates for the Market-wide Exercise 2011 have now been published. It will take place ‘on Tuesday 22 and/or Wednesday 23 November 2011’. 

The format and duration of the exercise is yet to be confirmed. 

Invitations to take part will be sent during April 2011.

•Date: 17th Dec 2010 • Region: UK •Type: Article •Topic: BC testing

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