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Monday, August 15, 2016

Options Regulatory Alert #2016 - 27
Reminder: Nasdaq Announces Regulation SCI BC/DR Testing Date

Category:

  • System Impact

Markets Impacted:

Contact Information:

Resources:

Designated Member

As announced in ERA #2016-2 and ORA #2016-5, Nasdaq will host its annual Business Continuity and Disaster Recovery Plan test on Saturday, October 15, 2016.

Regulation SCI requires that each SCI entity designate members/participants to take part in the annually scheduled Business Continuity and Disaster Recovery Plan test. While Nasdaq encourages all Members, Member Organizations, PSX Participants and Options Participants of its markets to participate in testing, each Nasdaq exchange has designated certain Members, Member Organizations, PSX Participants, and Options Participants, to participate in the annual Business Continuity and Disaster Recovery Plan test.

Pursuant to BX and Nasdaq Rules 1170 and PHLX Rule 926, Nasdaq’s exchanges have established standards for the designation of applicable Members, Member Organizations, PSX Participants and Options Participants that are required to participate in the annual Business Continuity and Disaster Recovery Plan test.

Nasdaq notified the members/participants that are required to participate in this test in February 2016. If you are unsure whether your firm is required to participate, please contact US Market Sales at +1 800 846 0477.

Testing Plan

Test Schedule

  • 09:00 AM ET – Pre-open Session Begins
  • 09:30 AM ET – Opening Cross, Market Hours
  • 10:00 AM ET – IPO “ZWZZT”
  • 10:30 AM ET – IPO “ZXZZT”
  • 12:00 PM ET – Closing Cross, After-market Session Begins
  • 01:00 PM ET – Trading Session Ends
System Availability

Nasdaq Markets (Nasdaq Market Center, Nasdaq BX, Nasdaq PSX, Nasdaq PHLX, Nasdaq BX Options, Nasdaq Options Market) will be available for testing. All order entry methods and market data feeds will be available for testing via the Chicago Data Center.

Member Participation

Designated Members are expected to test and validate their systems will function and perform appropriately for a disaster recovery event. Specific actions each member should take on the test day:

  • For each exchange that a Designated Member will test, the Designated Member must register for the test by calling Trading Services at +1 212 231 5180.

  • Equities Members/Participants are encouraged to validate the following as appropriate to their BCP/DR plans. Members/Participants will be asked to provide a confirmation of participation in tests marked with an asterisk (*) below via an email to Nasdaq Trading Services. A checklist to take notes during the test is provided here.
    • Connectivity*
    • Trading*
    • Market Data*
    • Opening Cross participation
    • IPO Participation (10:00 AM ET or 10:30 AM ET)
    • Closing Cross participation
    • After-market participation

  • Options Members/Participants are encouraged to validate the following as appropriate to their BCP/DR plans. Members/Participants will be asked to provide a confirmation of participation in tests marked with an asterisk (*) below via an email to Nasdaq Trading Services. A checklist to take notes during the test is provided here.
    • Connectivity*
    • Quote Entry
    • Order Entry
      • Simple Order Entry
      • Complex Order Entry
      • Auction Order Entry
    • Trading*
    • Opening Process participation

Further information about the test and who is required to participate is available here. Please contact Nasdaq Trading Services or U.S. Market Sales with any questions.

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Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $13 trillion. To learn more, visit: business.nasdaq.com.

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