Tokyo Diary 2
In conversations today with IT executives for Tokyo firms, the repercussions for their operations from the March earthquake and tsunami disaster are still being felt. Most firms are reconsidering their IT plans as a result, and the government is considering new requirements as well.
The biggest pitfall for any idea that could bolster disaster recovery is networks, says an IT analyst for a major bank here. Some firms have considered cloud computing as a way to have important operations performed independently of in-house and on-site systems, but realize that if networking is disrupted in a disaster, cloud capabilities become moot. Similarly, firms may have self-sustaining energy sources as back-ups in case outside power supplies are disrupted. Again, without a working network, it won't matter if a firm has its own power to conduct operations.
Outside of the networking issues and their effect, firms may find solutions such as locating processing in other countries or parts of the world. Another factor could be government audits, which would stem from the fact that commercial banking in Japan ended up with numerous double or triple payments. Disbursement of funds to clients in the emergency of the disaster were not properly recorded, so some found they could go back and claim non-receipt of funds, and receive double or triple the cash they have or are entitled to. This has been mostly a commercial and retail banking issue, but it is causing regulators to look more closely at corporate finance and securities operations in the event of a disaster.
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: https://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
How banks are utilizing new AI forms in their KYC process
Execs from JP Morgan, ING, and Standard Chartered explain how they are looking to use agentic AI to streamline KYC workflows.
TNS integrates Radianz, Exegy reduces latency, BondXN allies with BlackRock, and more
A recap of this week’s major tech and data news in the capital markets.
Re-engineering reconciliations: User-initiated AI cuts recs from days to minutes
Reconciliations have long been tied to batch scheduling. Prasanna Anandan explains how one bank broke down bottlenecks by embedding an AI-driven, user-initiated interface.
SFC lifts lid on new Hong Kong FIC trading platform
Regulator sheds light on venue that could rival Bloomberg, Tradeweb in CNH market
WatersTechnology latest edition
Check out our latest edition, plus more than 14 years of our best content.
24X National Exchange faces uphill battle in exemption fight
The Waters Wrap: 24X wants exemption from the requirement that the SIP be operational during overnight hours for its overnight session to proceed. Nyela explains why that’s asking a lot.
CME’s Duffy addresses outages as exchanges push toward 24/7 trading
As senior exchange execs fielded questions about overnight trading in equities, the theme of resiliency lingered.
Bloomberg enhances feeds, Standard Chartered and TP Icap partner on digital assets, and more
The Waters Cooler: LSEG and ASX partner to modernize derivatives platform, MSCI acquires two companies, State Street bolsters data business, and more in this week’s news roundup.