Cybersecurity “war room” exercise

Loss of a major co-location data center

10 November 2020 • 2:00 PM - 4:30 PM CST • Virtual

Join FIA on November 10 from 2:00 p.m. CST to 4:30 p.m. CST for our annual cybersecurity exercise. This exercise will cover a major co-location data center loss that poses a potential systemic risk to the futures markets and its participants. Via moderated breakout sessions, participants will discuss the business technology and regulatory impacts of the disruption as well as the potential responses and resolutions. Space is limited. 

The exercise will cover: 

  • Emergency communications between exchanges, clearing houses, FCMs, key service providers and customers;
  • Operational risks associated at FCMs dealing the daily back office processing deadline for transactions, leading to potentially delayed regulatory reporting;
  • Need to identify staff and skill sets to address the impacts of such a disruption;
  • Firms’ due diligence obligations when utilizing key service providers;
  • Appropriate timing and content of messages to clients, counterparties, regulators, etc.; 
  • Reputation management; and,
  • Escalation path from IT to senior management, incident response teams, regulators, etc.

This exercise is ideal for those individuals who would need to collaborate under such a dramatic market disruption, typically coming from client service, compliance, legal, operations, information security, information technology, risk, trading, treasury and senior management functions. 

Following the workshop, we will hold a post-mortem call in December to discuss lessons learned and elicit your feedback on collective improvement areas.