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Bats Europe, Europe’s largest stock exchange, today announced the successful operation of its European business from the exchange’s disaster recovery (DR) office. The test constitutes a critical part of Bats 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.
“Every day around 40% of all equities traded in Europe are either executed on Bats systems or reported to our trade reporting service, BXTR so ensuring we are equipped to handle any adverse event is vital,” said David Howson, COO of Bats 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 is a tribute to the continuing work the team has done in testing and enhancing our infrastructure,” he said.
In addition to last week’s test, parent company Bats Global Markets operates its U.S. markets in their entirety from its Kansas City-area disaster recovery site twice annually. The company’s global headquarters there are disconnected to mirror what might occur in a disaster situation. All of the 132 employees based in Kansas are involved.
