FIF Coordinates Business Continuity Testing for Service Bureaus and Market Data Vendors

The Financial Information Forum’s (FIF) major service bureau and market data members successfully participated in the October 25th industry-wide business continuity test. For the past several years, FIF has participated in this critical exercise, which allows firms and industry organizations to test backup sites and backup communications capabilities across the industry. This year’s exercise involved transactions for equities, options, futures, fixed income, market data, Treasuries, commercial paper, settlement and payment systems. FIF managed service bureau and market data vendor participation in the industry-wide test. Participation in this year’s test was outstanding and the results were exceptional. FIF service bureau members including Broadridge BPS, ICI and BPO, SunGard Phase 3 and Valdi, Thomson Reuters BETA, Fidessa, Shadow Financial Systems, FlexTrade Systems, Talisys and OTC Markets tested with over 100 broker dealer clients. FIF market data vendors including Thomson Reuters, Bloomberg, Interactive Data, Fidessa, Factset, OTC Markets, and SIX Financial Information verified over 60 market data connections. Manisha Kimmel, Managing Director of FIF described the active role the service bureau’s and market data vendors took in testing stating, “Our members demonstrated their commitment to business continuity through their successful preparation and execution of this test.”