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BATS Chi-X Europe, Europe’s largest stock exchange, today announced the successful and total operation of its European business from the exchange’s disaster recovery (DR) office. The test, which took place on 1st May, was the first of its kind for the exchange and constitutes a critical part of BATS Chi-X Europe’s Business Continuity Planning (BCP) process.
As part of the test, the company’s headquarters were closed for the entire day, mirroring a disaster scenario. Instead, the large majority of London staff reported to the DR office and conducted their daily routines - operating the exchange’s two European order books CXE and BXE as well as BXTR trade reporting services - from the secure venue. Other staff members worked from remote locations.
“BATS Chi-X Europe now offers trading in 15 countries while a quarter of all European continuous trading crosses our platforms. We are of structural importance to the European marketplace and so ensuring we are equipped to handle any adverse event is critically important,” said David Howson, COO of BATS Chi-X Europe.
“Given our role in the market, it was imperative that our day-to-day business functioned entirely seamlessly, with no disruption in service or performance. That we achieved this, on our first-ever test at this scale, without a glitch, is a tribute to the continuing work the team has done in testing and enhancing our infrastructure,” he said.
