SIFMA held the Quantum Dawn 2 exercise on July 18, 2013 to enable both individual firms and the sector as a whole to test their response plans in order to maintain effective and orderly markets and protect clients in the event of a systemic attack. Overall, the industry proved to be resilient in the face of a cyber attack.
The exercise was completed successfully with robust engagement from over 50 participants. The sector came together and utilized its existing protocols, procedures and processes to effectively communicate with each other and with government partners to address the crisis and restore the markets to fair and orderly operation.
SIFMA continues to believe that industry efforts alone are insufficient to address cyber attacks. A strong partnership between the industry and government is essential to effectively defend against these threats and keep millions of clients safe. Done right, information-sharing is the best way to keep our clients protected and our companies enabled to defeat the most critical threats. We call on Congress to take action and pass cybersecurity legislation that makes it easier for the government to share information with the private sector, and vice versa.
- After-Action Report (October 21, 2013)