Over 70 Firms to Participate in 10/15 BCP Test in Fixed Income Markets
On Saturday, October 15, 2005, The Bond Market Association will conduct a business continuity test within the fixed income markets which is designed to test connectivity between and among backup facilities. Currently, over 70 firms have committed to participating in this Phase II Industry-wide test. This test is consistent with The Bond Market Association’s efforts to ensure a timely recovery and market resiliency in the event of a disruption.
In response to The Bond Market Association’s invitation for buyside involvement, many large asset management firms will participate in the October 15 BCP Test. This initiative is an opportunity for the asset management community to join the industry in testing backup connectivity with the major Alternative Trading Systems such as Thomson TradeWeb and MarketAxess, among others.
Currently, both buyside and sellside firms are in dialogue with the ATSs, Inter-dealer brokers and Clearing Institutions on BCP procedures. If your asset management firm wants to participate in this industry effort, please contact Joseph Sack, Executive Vice President of The Bond Market Association or Douglas Taggart, Assistant Director of E-Commerce Initiatives of The Bond Market Association at 646.637.9200.
The Securities Industry Association, the Futures Industry Association, DTCC, SIAC and other organizations have coordinated their efforts on this industry-wide test with The Bond Market Association.