Industry BCP/DR Test · IBM CDS NEO Exchange. 8 Differences from normal trading • Trade Date...
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Industry BCP/DR Test Test Date: October 26, 2019 All Participants Meeting No. 3 October 16, 2019
Transcript of Industry BCP/DR Test · IBM CDS NEO Exchange. 8 Differences from normal trading • Trade Date...
Industry BCP/DR Test
Test Date: October 26, 2019
All Participants Meeting No. 3
October 16, 2019
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Meeting Agenda
• Introduction
• Scope
• Project timetable
• Data matrix
• Test scripts
• Crisis Communication Centre
• Test day conference bridge
• Post-test reporting
• Recap of Participants Responsibilities & Information Requirements
• iMeet Central Desktop portal overview
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Introduction
• Dealer Members perform annual BCP tests as required by IIROC Rule 17.16 and if subject to Part 12.4.1 of NI 21-101 Marketplace Operation must participate in IIROC’s biennial industry BCP test
• Dealer Members perform annual connectivity tests with key suppliers, vendors and market infrastructure utilities
• Service Providers and Utilities perform failover tests and provide access for members to test on backup site and play an integral role in assisting IIROC Dealer Members with industry and internal BCP/DR testing
• 2019 Industry Test is one component of the BCP/DR testing carried out by members to
satisfy their regulatory requirements
• 2019 Industry Test is the 6th such event in a 12 year plan to test potential disruptions to
the capital markets in Canada
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Test Scenario
The planned scenario for 2019:
• IIROC's Dealer Member participants are testing from their
production / primary facilities
– Some members are choosing to test from back-up / BCP locations
and
• Service providers are testing from back-up / DR sites
– Exceptions are being accommodated – where a rationale has been
provided
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We will not:
• Stress test the capacity of the markets or back-up sites
• Test every transaction variant used in normal markets
• Test TSX Smart Order Routing
• Test MQ with CDS
• Test redundancy of telecommunications infrastructure
• Perform latency testing for Equity transactions
• Perform any batch processing for transactions executed during the test
• Settle trades or move money
• Test debt transaction reporting through MTRS
• Test REPO transactions
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Test Scope
• Products being tested include: CDS Equity Trade & Settlement, Equities,
ETF’s Fixed Income, Futures, GIC’s, Mutual Funds, Options
• Some members are testing selected back-office transactions
• Retail and Institutional functionality
• Manual order routing and selected smart order routing
• IIROC Crisis Communication Centre (CCC)
• IIROC Market Surveillance
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2019 IIROC Industry Test Market Infrastructure
CDCC
Member2Member1Carr.
Member3
CARR.
Member4Member5 Member 60
ITS IRESS Fidessa
Alpha
TSX
TSX VNASDAQ
Omega
Tri-Act
CSE
Broadridge
MX
Intro
Member2
Intro
Member1
FundSERV
SSC
Net
CannexCandeal
IIROC Surveillance
IIROC CCC
Message
Perimeter
IBM CDS
NEO Exchange
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Differences from normal trading
• Trade Date Monday October 28, 2019 for:
– TSX, TSX-V, Alpha
– FundSERV
• Test symbols for Equities, Mutual Funds, Options, Futures, ETF
• Smart Order Routing for TSX not available (SOR provided by other
utilities will be available)
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Project Timetable
Feb – April M ay – O ct O ctober 26 O ct -Dec
Design Build Perform Assess
• Scenario
• Objectives
• Enlist Participants
• Document test
structure
• Trans. test scripts
• Develop Test Plan
• Support infrastructure
• Develop success
criteria
• Perform pretests
• Implement test
support
• Perform test
• Document test
results
• Collect feedback
• Create final test
report
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Project Milestones & Deliverables
Design PhaseDate Deliverable
Completed Scenario, Objectives
Completed Participant list (members & service providers)
Completed Participants questionnaire templates created (in Word and
in Portal)
Completed Transaction profiles
Completed April 3 All Participants meeting
Build PhaseDate Deliverable
Completed Participant questionnaires to be completed and submitted in the portal
Completed Participants Matrix – mapping members to service providers members
Completed Test Scripts being collected and reviewed
Completed Support Plan being built for use on October 26
Completed Working Group to finalize test results and feedback forms
Oct. 16 Third All Participants meeting
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Project Milestones & Deliverables
Perform Phase
Date Deliverable
Sept - Oct: Connectivity pre-testing (subject to service provider availability)
October 23: Confirm final test specifications with Working Group
October 26: Perform test
Assessment Phase
Date Deliverable
October 31: Collect test results from participants
October 31: Collect participant feedback from participants
December 30: Complete drafting of test report
January: Archive project artifacts
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Data Matrix
• Information gathered in the Dealer Member and Utility questionnaires
has been captured in a working spreadsheet referred to as the Data
Matrix
• The matrix summarizes the test scope by showing which dealers are
testing with which utilities and which product types are being tested
• As Dealer Members have been reviewing and confirming their scope,
changes are being reflected in updates to the matrix
• The latest version of the matrix is maintained in the iMeet portal at all
times. A final version will be approved by the Working Group at its final
meeting on October 23rd
• Participants should ensure they have the final version available for
reference during the October 26th test
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Test Scripts
• Utilities provide essential trade transaction testing specifications and
details to dealer members via test scripts
– Symbols, quantities, prices, available time windows to enter trades
• Dealer members may create their own internal test scripts based on the
utility scripts, but it is not required to file them with IIROC
• Dealer Members must review all utility scripts relevant to their own
testing in detail – raise any questions or concerns immediately with the
utility concerned
• All utility test scripts were approved as final versions at the Working
Group meeting on October 9th and are posted to the iMeet portal
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Test Scripts - continued
• Draft scripts currently posted in the portal:
– TSX, TSX-V, Alpha
– MX
– CDS Equity / Debt Trade Entry, Confirmation & Settlement
– CDCC
– CSE
– Nasdaq (CXC, CX2, CXD)
– CANNEX
– NEO Exchange
– MatchNOW (Tri-Act)
– FundSERV
– Candeal
– Omega
– Perimeter
– Instinet ICX
– Back Office Functions
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Test Day Contact List
• A test day master contact list has been assembled from information
gathered in the questionnaires and provided by e-mail
• The list is specific to those who are actively involved in the test, who
may need to contact counterparties and others on test day
• We continue to add names as identified and advised
– Send updates to [email protected]
• The latest version of the Test Day Contact List is being maintained in the
iMeet portal at all times. A final version will be posted prior to test day
• Participants should ensure they have the final version available for
reference during the October 26th test
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Crisis Communication Centre (CCC)
• Advance notification of October 26, 2019 CCC test to be sent to all
CCC test contacts on October 21
• CCC test contacts will receive an e-mail early morning on October
26, 2019 and will be asked to respond to the e-mail message
• We expect all CCC test contacts to respond to the message and will
be reporting on the response rate
• CCC test contacts have been identified in the Dealer Member and
Service Provider questionnaires available in the iMeet portal 2019
Workspace and a master list will be maintained by IIROC
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Test Day Conference Bridge
• Opens at 7 am on October 26, 2019
• Staffed at the IIROC offices throughout the test
• Dial-in local: 416-933-9440
• Dial in LD: 1-855-453-6959
– Conference ID no. 1034330 #
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Post-Test Reporting
• Each Service Provider and Dealer Member processing simulated
transactions must submit the applicable test results form containing
the results of their test day activities:
– Dealer Member Test Results Form
– Service Provider Test Results Form
• Will be pre-populated with Dealer Member names per data matrix
• Blank Test Result Forms and Feedback Forms were finalized by the
Working Group and are posted to the iMeet portal
• Test Result Forms submission deadline is Thursday Oct. 31, 2019
• Test Feedback Forms submission deadline is also Thursday Oct. 31,
2019
• Submit both forms to [email protected]
• Please ensure to include your firm’s corporate name in the file name
of all submissions
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Recap of Participant Responsibilities &
Information Requirements
1. Review information in the matrix for accuracy
2. Review test scripts for sufficiency and accuracy
3. Conduct internal / provider connectivity pre-testing (where applicable)
4. Deploy and coordinate test resources on test date
5. Confirm all external provider availability on test date
6. Respond to the scheduled CCC communication at the start of the test
7. Perform Test
8. Complete and submit test results and feedback forms
9. Attend post test reception in Toronto (Location TBD)
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iMeet Central Portal Overview
• Project portal is available to all test participants
• Single User ID has been assigned to the primary contact of each
participant
• User ID can be shared with all those involved in your company
• Multiple concurrent sessions for one account are permitted
• Participants can read and print material from the iMeet Portal 2019
Workspace
• The portal is the definitive source for test information
• First level portal support: Des O’Callaghan ([email protected])
• Note: The conference bridge will be the primary communication tool
utilized on test day
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Questions
Please submit any questions to:
and
