The Financial Information Forum’s (FIF) major service bureau and market data members successfully participated in the October 24 industry-wide business continuity test. This critical exercise allows firms and industry organizations to test backup sites and backup communications capabilities across the industry. The exercise involved transactions for equities, options, futures, fixed income, settlement and market data.
Working with SIFMA, the FIF managed service bureau and market data vendor participation in the test. Participation in this year’s test was exceptional and the results were extremely positive. FIF service bureaus tested with over 175 broker dealer clients and over 42 market data connections were verified.
Manisha Kimmel, Executive Director of the Financial Information described the active role the service bureau’s and market data vendors took in the testing process stating, “From the initial planning stages to conducting and reporting results, our members demonstrated their commitment to business continuity and assuring resiliency.”
In addition to facilitating service bureau and market data vendor participation in industry-wide testing, the Financial Information Forum participates in other BCP initiatives including maintaining an emergency command center for the market data industry and representing market data and service bureaus on the Financial Services Sector Coordinating Council (FSSCC). More information on FIF’s BCP activities can be found at http://www.fif.com/bcp/.
