SIA announces business continuity guidelines for "Unexpected Market Close"

The Securities Industry Association's Data Management Division has announced guidelines to direct the industry in order routing, clearing and settling equities and options during an unexpected market close.

This is the second set of guidelines since the Depository Trust & Clearing Corporation, in mid-March, published its draft plan to address interruptions in daily processing due to unscheduled closings or a protracted system failure. The plan summarises how DTCC would handle these incidents and also encourages industry participants to assess their own operations.

John Panchery, SIA vice-president and managing director, systems and technology, said: “This paper is the result of four months of