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For Our Broker-Dealer Friends and Other Interested Persons: This Just in from FINRA: Industry-Wide Business Continuity Testing Slated for Saturday, October 25, 2014

“On Saturday, October 25, 2014, from approximately 9 a.m., Eastern Time (ET) to 1 p.m., ET, the Securities Industry and Financial Markets Association (SIFMA) will conduct an industry-wide business continuity test. The FINRA systems for reporting corporate and agency debt and securitized products transactions will be available for firms to connect and test trade reporting functions. The system will reflect a business/trade date of Saturday, October 25, 2014.

This test provides the opportunity for firms, markets and utilities to verify their ability to operate through an emergency using backup sites, recovery facilities and backup communications capabilities. The test will simulate a disaster scenario and will allow customers to use the appropriate backup connectivity method to the FINRA TRACE system.

Note: A formal FINRA test script is not available; users are encouraged to ensure connectivity and to utilize normal trade reporting functions during the test.

Additional details for the test can be found on the SIFMA website.

If you have questions, please send an email to FINRA Product Management or call (866) 899-2107.”

Our two cents: If you plan on participating, don’t forget to document the who, what, where, and when of your testing for your firm’s records.