CDS Clearing and Depository Services Inc. reports that it has recently conducted successful business continuity tests.

On November 11, CDS conducted its largest corporate-wide BCP test since its business continuity management program was implemented, involving over 100 staff from its Calgary, Montreal and Toronto offices. It reports that, during the test, “all factors such as network connectivity, desktop environment and voice functionality for the alternate work site and remote computing users functioned fully and as specified in CDS’s business continuity plan.”

“The purpose of this exercise was to test the formal business continuity plans CDS has in place that include the use of alternate work sites and remote computing,” said David Stanton, chief risk officer.

CDS says that November 11 was chosen because it was Remembrance Day (Veteran’s Day in the U.S.) and while the markets remained open, banks were closed. “Lower than normal transaction volumes and the absence of settlements versus money taking place minimized the risk associated with a large BCP test involving a significant number of staff,” it explains.

The BCP test was followed by a successful disaster recovery exercise a week later on November 22, where CDS exercised its ability to failover to a back-up site and resume normal processing.

“During this audited exercise, all CDS Limited systems (online and business functionality, network failover, file transfer and participant connectivity) and CDS INC. systems were recovered within predetermined recovery time objectives and without failure,” it reports.

IE