In a new Consultation Report (the "Report"), IOSCO solicited feedback on the operational resilience of trading venues and market intermediaries ("regulated entities").
The Report highlighted that, during the pandemic, regulated entities were able to serve their clients despite periods of extreme market volatility and high trading volumes. The Report also highlighted a series of "lessons learned" from the pandemic that may be useful to enhance practices in the future, including:
- greater automation and less dependence on physical documents and manual processes;
- considering the role of service providers and offshore services;
- reviewing, updating and testing business continuity plans, including scenario planning; and
- monitoring processes to help ensure information security in order to prevent cyberattacks.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
