The Nasdaq Stock Market is to conduct two market-wide disaster recovery tests as part of its business continuity planning programme.
Nsadaq will invite all its customers to participate in the tests, the first of which takes place on Saturday 21 February 2004, with the second planned for a Saturday in late March or early April.
The first test will enable customers to test their disaster recovery and back up procedures with Nasdaq's primary Connecticut facility. During the second test, Nasdaq will operate a market from its Maryland facility and firms will have the option to test from either their existing or alternative locations.
Steve Randich, chief information officer and executive vice president, Nasdaq, says the market-wide disaster recovery tests will verify market preparedness.
"The Securities and Exchange Commission and the Securities Industry Association have been strong advocates of industry testing along with Nasdaq and as such we urge all Nasdaq's market participants to take part in these upcoming tests," says Randich.
Nasdaq says market participants who are successful in connecting to its systems from their backup facilities will be included in the monthly disaster readiness report that it presents to the Securities Industry Association.