Bats Business Continuity Disclosure
In an effort to safeguard the interests of our Members, Bats has established a Business Continuity Plan (the “Plan”) to manage the effects of an occurrence that significantly disrupts business operations. This Business Continuity Plan is designed to comply with regulations and guidelines promulgated by the U.S. Securities Exchange Commission and the Financial Industry Regulatory Authority.
The Plan contemplates the scope and severity of a significant business disruption while attempting to achieve uninterrupted Member access to the Company and expedient resumption of technology and market operations. Accordingly, the Plan addresses several essential considerations, including, but not limited to, data back-up and recovery, mission critical systems and functions and alternative methods of communication to Members and business counter-parties, including the DTCC and other clearing agencies. In addition, the Plan addresses regulatory reporting in the event there is a disruption in business operations.
Although the severity of a significant business disruption (“SBD”) will impact the timeframe within which we can resume normal operations, in the event of an occurrence that only impacts Bats corporate headquarters, we are able to transfer business operations to our alternate business continuity worksite and resume business within a few hours. Furthermore, in the event of an outage affecting our primary data center, Bats maintains a geographically redundant secondary data center, located in Chicago, IL, thereby allowing our technological operations the capability to recover within minutes from the time the decision is made to failover to the secondary site.
Bats tests our Business Continuity Plan and its related Disaster Recovery and Pandemic Plans on a routine basis in an effort to measure the efficacy of our procedures and incorporate industry best practices. Additionally, Bats participates in the annual Securities Industry and Financial Markets Association (SIFMA) industry-wide business continuity test as well as quarterly SIP resiliency tests. Participation in these exercises demonstrates our commitment to supporting shared critical infrastructure, the mitigation of operational risks, and the SIFMA test allows Members to test connectivity during a simulated failure at our primary trading site/data center.
While the Plan has been reasonably designed to allow us to operate during SBD’s of varying severity, such potential disruptions are unpredictable. Consequently, Bats cannot guarantee the availability of systems or recovery timeframe if an SBD occurs.
Contacting Us – In the event of an SBD, you can call the main line at (913) 815-7000, and also reach specific departments at Bats by calling the numbers listed on the Bats website: www.bats.com/contact/. Bats will take every opportunity available to reach out to Members in the event of an SBD, or any event that impacts business operations. In the event of an SBD, Bats will make best efforts to provide timely updates via email communications and updates to the alerts section of the Bats website: www.bats.com/us/equities/notices/.