The FIA Market Technology Division successfully conducted its seventeenth (17th) annual continuity of business and disaster resilience test in October 2020.
The annual exercise, an initiative of the FIA Market Technology division, was established in response to the disruptive events of 11 September, 2001, and the first test took place in 2004. The exercise has expanded over the years and remains an extraordinary example of collaborative efforts across the industry.
From the outset, the scope of the disaster recovery test has focused on testing business continuance, process recovery, disaster resilience connectivity, and functionality between exchanges, clearinghouses, and member firms by:
- Verifying firms' ability to test business continuity from alternate work recovery sites (the people side)
- Testing firm back-up sites to exchange and clearinghouse back-up sites (DR-to-DR)
- Verifying connectivity and process recovery
- Testing round-trip communications capabilities
- Operational Resilience