The first test will be for NASDAQ's customers to test their disaster recovery, backup facilities / alternate location(s) with NASDAQ's primary Connecticut facility. During the second test, NASDAQ will operate the market out of its backup facility in Maryland and firms will have the option to test from either their primary or alternate location.
"NASDAQ is pleased to lead two market-wide disaster recovery tests aimed at verifying market preparedness. The Securities and Exchange Commission and the Securities Industry Association have been strong advocates of industry testing along with NASDAQ and as such we urge all NASDAQ's market participants to take part in these upcoming tests," commented Steve Randich, Chief Information Officer and Executive Vice President, NASDAQ.
During the two Saturday tests, the NASDAQ system will be accessible starting at 8:00 a.m. E.T. The market open will occur at 9:30 a.m., the market close at 12:00 noon, and the test will conclude at 12:30 p.m. NASDAQ's Technical and Network support will be available during the tests to assist in problem resolution.
Firms who plan to participate will be asked to pre-register. Information on how to register for the tests and details such as support contact numbers and designated test securities will be provided in the near future.
Market participants who are s uccessful in transacting with NASDAQ from their backup facility will be included in the monthly Disaster Readiness report NASDAQ presents to the Securities Industry Association (SIA). The SIA has indicated that a firm's successful completion of these NASDAQ tests will satisfy the requirements of the SIA industry-wide Phase I test.
NASDAQ is the world's largest electronic stock market. With approximately 3,300 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to category-defining companies that are leaders across all areas of business including technology, retail, communications, financial services, media and biotechnology. For more information about NASDAQ, visit the NASDAQ Web site at www.NASDAQ.com or the NASDAQ Newsroom SM at www.NASDAQnews.com.
