The Art of Preparation

This week an earthquake rattled windows on Wall Street, Steve Jobs stepped down as the CEO of Apple, and the Eastern seaboard is bracing for Hurricane Irene. So naturally, I've been inundated with business continuity planning, disaster recovery and/or succession planning pitches.
Don't get me wrong, those are valuable stories to be told, for sure; but as a journalist I feel it to be an unwritten law that you can only write one BCP, DR or succession planning story every five years. I'm already on record both at Waters and at my previous job writing for US Banker, so I'll take a pass.
I will take a minute, though, to note that it's these types of events that remind us just how important being prepared is to a business. BCP was all the talk after the massive earthquake and tsunami that hit Japan, but almost just as quickly those talks were moved to the back-burner.
As that great '80s band Cinderella once lamented, you don't know what you got till it's gone. (I'm not sure that that fits here, but I really wanted to mention Cinderella in at least one column this year.) So let's all take this time to do the tedious task of reviewing our business continuity planning, disaster recovery and succession planning procedures.
We take these things for granted, but every single New Yorker that ran outside during the earthquake failed the Federal Emergency Management Agency's protocol for responding to an earthquake.
For what it's worth, I passed because I was in a plane. I planned it that way.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
M&A activity, syndicated loans, a new tariff tool, and more
The Waters Cooler: LSEG and LeveL Markets partner for new order type, QuantHouse gets sold to Baha Tech, and Fitch Ratings has a new interactive tool in this week’s news roundup.
Nasdaq, AWS offer cloud exchange in a box for regional venues
The companies will leverage the experience gained from their relationship to provide an expanded range of services, including cloud and AI capabilities, to other market operators.
Bank of America reduces, reuses, and recycles tech for markets division
Voice of the CTO: When it comes to the old build, buy, or borrow debate, Ashok Krishnan and his team are increasingly leaning into repurposing tech that is tried and true.
Crypto exchange EDX takes its tech into its own hands
The crypto exchange and clearinghouse, founded in 2022 by industry heavyweights, has built out its technology to meet the needs of the institutional market. In the process, it has learned important lessons about partnering with vendors, building in-house, and, ultimately, control.
FCA sets up shop in US, asset managers collab, M&A heats up, and more
The Waters Cooler: Nasdaq and Bruce ATS partner for overnight market data, Osttra gets sold to KKR, and the SEC takes on DOGE in this week’s news roundup.
EMS vendors address FX options workflow bottlenecks
Volatility is driving more buy-side interest in automating exercises and allocations.
BNP Paribas explores GenAI for securities services business
The bank recently released a new web app for its client portal to modernize its tech stack.
Treasury selloff challenges back-office systems, datafeeds
FIS and Trading Technologies suffered downtime during peak activity.