2012 Industry Test Overview and Results

  Read the full report.

The 2012 test was part of an ongoing industry-driven backup site testing initiative that began in 2003 and is led by SIFMA. 

The 2012 test followed the format of prior industry-wide tests where firms submit test orders and transactions from their backup sites to the markets and industry utilities.  The test involved components for Equities, Options, Fixed Income, Clearing and Settlement Utilities, Market Data, Payment Systems, Treasuries, Commercial Paper and FX.  The exercise was supported by all major exchanges, markets and industry utilities.  Participation in the test was voluntary and results for specific firms, exchanges, markets and utilities are retained in strict confidence by SIFMA.

Participants in the SIFMA test included 124 securities firms and 56 market organizations.  During the test approximately 744 communications connections were establish between securities firms and banks and the exchanges, markets and utilities.  Test transactions on these connections were successful 97% of the time.  These results were generally comparable to prior tests.  These results underscore the ability of the securities industry to operate through adverse conditions.

Overview

This is a critical exercise that highlights our industry's ability to operate through a significant emergency using backup sites, recovery facilities and backup communications capabilities across the industry. SIFMA urges all firms to participate in this important event.  

Overview Presentation on 2012 SIFMA Industry Test 

Test Components 

Industry-wide tests follow a consistent format whereby firms submit test orders and transactions from their backup sites to markets and utilities.

The test is supported by all major exchanges, markets and industry utilities.  The exercise involves test transactions for equities, options, futures, fixed income, settlement, payments, Treasury auctions and market data. On the same day, the Futures Industry Association (FIA) leads the futures test component and Financial Information Forum (FIF) coordinates market data vendors and service bureaus. 

SIFMA compiles and discloses aggregate test results (but not individual performance).  For prior year's test results, please view our Archives.

Summary of Test Components (XLS) 

Test Scripts from Exchanges, Markets and Utilities

Scripts will be posted when they are available.  The current target for getting scripts posted is August 1, 2012.

The Archives hold relevant documents from prior year's industry-wide tests.

2011 Industry-Wide Business Continuity Test 
2010 Industry-Wide Business Continuity Test