SIFMA Conducts Successful 2025 Industry-Wide Business Continuity Test

New York, NY, October 27, 2025 – SIFMA today issued the following statement from Charles DeSimone, SIFMA managing director, technology and operations, on SIFMA’s October 25, 2025 industry-wide business continuity test:

“SIFMA and its members remain focused on operational resilience to protect clients, data, networks and operations from diverse cyber threats, including theft, disruption and destruction.  Last weekend we conducted our 2025 SIFMA Industry test, during which securities firms and market infrastructure providers and key third parties tested their business continuity and disaster recovery plans by exercising and verifying their ability to operate using backup sites, recovery facilities and backup communication capabilities.  Over 90 entities were available for testing, including equities and options exchanges, fixed income markets, market data providers, clearing agencies, payments platforms, and service bureaus, as well as a simulated Treasury auction.

“In parallel, Regulation SCI entities completed their testing requirements with the industry. Regulation SCI requires that each SCI entity designate members and participants to take part in an annual business continuity and disaster recovery plan test. SIFMA facilitates a coordinated testing program for the industry as part of our business continuity planning and disaster recovery work.  Reg SCI testing included simulated trading days for all Reg SCI exchanges and ATSs, along with simulated post-trade activity for clearing utilities, as well as simulated regulatory trade reporting.

“The successful test outcome underscores the ability of the securities industry to operate through adverse conditions.  We appreciate all the entities who took part in this year’s Industry Test.”

For more information, please visit the SIFMA Industry Test resource page and the Reg SCI Playbook.

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SIFMA is the leading trade association for broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets. On behalf of our industry’s one million employees, we advocate on legislation, regulation and business policy affecting retail and institutional investors, equity and fixed income markets and related products and services. We serve as an industry coordinating body to promote fair and orderly markets, informed regulatory compliance, and efficient market operations and resiliency. We also provide a forum for industry policy and professional development.  SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA).