BME has implemented a new service, designed to offer business continuity and contingency to its clients, which will allow its different market members to continue operating in the event that a disruption of whatever kind prevents them from working with their own systems or from their usual locations.
Given that time is of essence, the new service is crucial for financial firms. By offering this service, BME will employ its know how and its insight into the needs of its clients as well as the appropriate solution for contingency situations.
The forthcoming implementation of MiFID and the new Basel regulations - which include risk management clauses that require intermediaries to guarantee business continuity - usher in a new period of business opportunities for BME.
María Parga, Project Manager, said: "BME launches a new business line, proving it is the company that can best provide this type of service. Our clients understand that we are aware of their needs and are able to provide them with an immediate response through a reliable and tailor-made service that is as secure as the market itself because it is the market that provides it".
Through the Immediate Response Service intermediaries, clients can count on backup offices equipped with a number of tailor-made work stations and complete hardware, software and high-speed market connectivity systems. All these facilities will allow the market to resume operating in less than 30 minutes in the event of any operational disruption.
In a sector where the specialisation, the business knowledge and the speed of response are vital, BME's expertise and infrastructure will help provide an efficient, competitive service that also meets the same reliability standards as those of the market.