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Friday, February 12, 2016

Equity Regulatory Alert #2016 - 2
Nasdaq Announces Regulation SCI BC/DR Testing Date

Category:

  • System Impact

Markets Impacted:

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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 will designate 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. These standards are as follows:

  • Nasdaq designates the top ten Members based on volume executed on the Exchange during the four calendar months immediately prior to Nasdaq’s announcement of the Business Continuity and Disaster Recovery Plan test date.

  • PHLX designates the top ten Options Participants based on volume executed on PHLX during the four calendar months immediately prior to PHLX’s announcement of the Business Continuity and Disaster Recovery Plan test date.

  • BX designates the top five Members based on volume executed on BX during the four calendar months immediately prior to BX’s announcement of the Business Continuity and Disaster Recovery Plan test date.

  • PSX designates the top five PSX Participants based on volume executed on each Exchange during the four calendar months immediately prior to PSX’s announcement of the Business Continuity and Disaster Recovery Plan test date.

  • NOM designates the top five Options Participants based on volume executed on NOM during the four calendar months immediately prior to NOM’s announcement of the Business Continuity and Disaster Recovery Plan test date.

  • BX Options designates the top five Options Participants based on volume executed on each Exchange during the four calendar months immediately prior to BX Options’ announcement of the Business Continuity and Disaster Recovery Plan test date.

Nasdaq expects to provide notice to the specific Members, Participants, and Options Participants that are required to test by Monday, February 29, 2016.

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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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