OpCC 2024 Business Continuity Tests


On May 8, OpCC reported 2024 BCS/disaster recovery test strategy.


  • OpCC reported strategy for 2024 business continuity, disaster recovery (BC/DR) tests.
  • To exercise, verify ability of options, futures firms, exchanges, market utilities to operate through emergency using backup sites, recovery facilities, communication.
  • Members mandated for participation in 2024 test were formally notified in Nov. 2023.
  • Participation is optional (although highly encouraged) for non-mandated members.
  • Disaster Recovery Testing
  • The 2024 industry test will use business date of trade/post trade data as Oct. 5, 2024.
  • Exchanges will transmit matched trades to OpCC for processing throughout mock trading cycle; as well as balance trades with OpCC once market has closed.
  • Exchanges will also receive, verify outbound DDS via connections to DR environment.
  • Firms will test by submitting post trade transactions to OpCC utilizing communication protocols normally used in production (external ENCORE, real-time, batch SFTP).
  • Firms will also receive, verify outbound DDS through connections to OpCC’s DR environments; access on-demand, core reports through external ENCORE.
  • Connectivity pre-testing is required for connections that will be leveraged during actual BC/DR test date; failure to complete pre-test may result in adverse impacts test effort.
  • Registration Deadline
  • The last day to register for participation in BC/DR industry test is Jul. 31, 2024.
  • Testing Dates
  • Connectivity pre-testing date for firms, exchanges is scheduled for Sep. 14, 2024.
  • Industry BC/DR test to take place Oct. 5, 2024; 8:15 am ET to 4:00 pm ET window.

Regulators OpCC
Entity Types B/D; Bank; Depo
Reference Com 54564, 5/8/2024;
Functions BCS; Exams; Operations; Risk; Settlement; Technology
Countries United States of America
Category
State
Products Banking; Cards; Clearing; Deposits; Payments; Securities
Regions Am
Rule Type Final
Rule Date 5/8/2024
Effective Date 7/31/2024
Rule Id 211372
Linked to N/A
Reg. Last Update 5/8/2024
Report Section US Investment

Last substantive update on 05/13/2024