Test Overview and Results
Read the full report.
The 2014 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, 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 126 securities firms and 63 market organizations. During the test approximately 1,056 communications connections were establish between securities firms and banks and the exchanges, markets and utilities. Test transactions on these connections were successful 98% 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
Next year's test will be held on Saturday, October 24, 2015 from 9:00am EST to 1:00pm EST.
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 2014 SIFMA Industry Test
Test Scenario & Table Top Exercise (TTX)
In 2014, SIFMA will be adding a scenario to the Industry Test per the documents below. The scenario will be used both to support the connectivity test that will be run on Saturday, October 25th, and also for firms to participate in a distributed Table Top Exercise between October 1st and October 31st to exercise their Business Continuity and Crisis Response Processes. At the link below you will find some background on the test as of May 2014.
2014 Industry Test Changes and Table Top Exercise (TTX) Scenario 
If your firm is interested in participating please sign-up via the registration system at the top of the page. Please select the TTX tab and sign-up with your firm's primary point of contact for the exercise. That person will receive all the information regarding the test once published. Below is a link to the exercise instructions for the TTX. Please note the survey and scenario will not be posted to the website but only sent to the firm's primary point of contact for the exercise.
Instructions for SIFMA Industry Test Table Top Exercise (TTX)
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 commercial paper, 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 all scripts posted is August 1, 2014.
Archives
The Archives hold relevant documents from prior year's industry-wide tests.
