This is a critical exercise that will highlight our industry’s ability to operate through a significant emergency using backup sites, recovery facilities and backup communications capabilities across the industry. We urge all firms to participate in this important event.
As a number of asset managers have expressed interest to participate in the test this year, SIFMA would like to welcome asset managers to learn more about the test and to take part in the test. The test will follow the format of the prior industry-wide tests where firms submit test orders and transactions from their backup sites to the markets and utilities. The exercise will involve test transactions for equities, options, futures, fixed income, settlement, payments, Treasury auctions and market data. The Futures Industry Association will lead the futures test component on the same day and Financial Information Forum will coordinate market data vendors and service bureaus. The test is supported by all major exchanges, markets and industry utilities. SIFMA will compile aggregate results, but will not reveal the individual performance of any organization.
A website for the industry test will be in place soon, which will serve as the portal for releasing additional information as the test is developed and for firms to register to participate.
