TMX, Canada’s primary trading venue, has set dates to test its readiness to manage a systems failure, with both internal and external tests slated for later this year.
The firm’s internal test will take place on April 27, and the test involving outside participants is scheduled for Oct. 26.
Late last year, the Investment Industry Regulatory Organization of Canada (IIROC) announced that it would be organizing a mandatory business continuity test for Oct. 26. At the same time, the U.S. securities industry will be carrying out its own industry-wide exercise.
TMX said its internal testing is intended to ensure that its primary trading and feed delivery systems will switch over to its backup systems in the event of a disruption. Details on the external testing will be issued closer to the testing date, it said.
IIROC previously announced that its test scenario for 2019 will involve dealers testing their primary data processing sites, and infrastructure firms testing their disaster recovery data processing sites.