SIFMA Business Continuity Planning Tests and Exercises: 2014 Dates Announced

This week, over 800 operations leaders from the financial services industry gathered in Boca at Ops 2014. Important conversations were held around shortening the settlement cycle, implementing money market reform, combating cyber attacks and more. The crowd favorite was definitely Rudy Giuliani, who said “relentless preparation” is needed for effective crisis management.

My role at SIFMA is to help our member firms do just that. On an ongoing basis, SIFMA coordinates market open/close protocols and an industry Command Center. You’re likely well aware of our proactive work on cybersecurity through our Quantum Dawn exercises. SIFMA also leads a number of equally important projects and services to help members secure, maintain and recover business operations against disruptions and threats, thereby promoting a safer and more resilient marketplace.

Industry-Wide BCP Testing Initiative: Oct. 25, 2014: As part of the ongoing securities industry testing initiative, SIFMA will lead the 2014 industry-wide business continuity test where firms submit test orders and transactions to markets and utilities. The exercise will involve test transactions for equities, options, fixed income, foreign exchange, commercial paper, settlement, payments, Treasury auctions and market data. The test is supported by all major exchanges, markets and industry utilities.

Pandemic Influenza Continuity Exercise Series: Sep. – Dec., 2014: SIFMA is coordinating with government and private organizations to sponsor a two year series of pandemic influenza continuity exercises to mitigate vulnerabilities during a pandemic influenza outbreak; identify gaps or weaknesses in pandemic planning or in organization pandemic influenza continuity plans, policies, & procedures; and encourage public and private organizations to jointly plan for, and test, their pandemic influenza plans.

• September 9-10: Pandemic Accord Mid-Planning Conference and MESL Workshop (attend one day)
• November 6-7: Final planning meeting to Review Master Scenario List (attend one day)
• November 13: Pandemic Influenza Wave 1 Full Scale Exercise
• November 20: Pandemic Influenza Wave 2 Full Scale Exercise
• December 1-4: Pandemic Influenza Recovery / Reconstitution Tabletop Exercise and Pandemic Accord Hotwash (attend one day)

I hope you’ll join us for these tests. Please contact me or visit SIFMA’s Business Continuity Planning Center for more information.

Karl Schimmeck

Managing Director, Financial Services Operations

SIFMA