Cash Market Readiness Newsflash | Publication of Emergency Playbook on Incident Handling

Release date: 05 Oct 2021

Cash Market Readiness Newsflash | Publication of Emergency Playbook on Incident Handling Cash Market Readiness Newsflash

Dear Cash Market Participants,

Frankfurter Wertpapierbörse (FWB®, the Frankfurt Stock Exchange) is publishing its joint Emergency Playbook with Eurex on incident handling (Standards and Best Practices). This document provides Trading Participants with a concise overview of technical incident handling at FWB, including guidelines on incident communication to the market, as well as the internal operational procedures that are activated in the event of a technical incident. 

With this Playbook, we would like to further support our Trading Participants to be prepared to the best extent for potential incidents, notwithstanding constant efforts on our side to maintain the high availability rate of the T7 trading system for the markets Xetra and Börse Frankfurt/Börse Frankfurt Zertifikate. This publication complements various existing documents including the Disaster Recovery Concept, the T7 Incident Handling Guide and Newsflash messages explaining the handling of special incident cases or providing more general incident handling information.

1. Background

As part of its mission, FWB continuously improves its technology and procedures with the goal to offer a robust infrastructure and the best incident handling possible. FWB strives for a highly resilient T7 trading system and constantly works on improving business continuity measures to get close to 100 percent availability. 

In case a technical incident does occur, FWB has established clear standards and will regularly review and improve its joint incident communication and handling with Eurex to minimize the impact and swiftly resolve the issue. By publicly communicating the standards described in this document, FWB wants to increase clarity and predictability for their Trading Participants regarding the operational procedures that are in place.

2. Playbook content

This Playbook describes the incident communication and operational procedures for FWB markets including the most recent improvements based on Trading Participants’ feedback. It expands on trading system resilience through incident prevention based on a model with consecutive lines of defense. For situations where an incident occurs, the Playbook also describes different aspects of incident handling on the systems:

  • Incident communication
  • Market re-opening procedures
  • Monitoring of fair and orderly trading conditions
  • Trading Participants’ best practice for order and trade reconciliation
  • Backup procedure for reference price and settlement price determination
  • Post incident analysis and communication

This Playbook is FWB’s contribution to a broader industry discussion on best practices and common standards. FWB is committed to providing the best possible service and as such, is always open to improvements and adapting their policies and procedures in line with technological progress and applicable regulations. 

The Emergency Playbook is attached to this Newsflash and is also available on the Deutsche Börse Cash Market website www.deutsche-boerse-cash-market.com and will be updated regularly.

If you have any questions regarding the Playbook's Cash Market topics, suggestions or comments, please contact Cash Markets Operations via cmmarketcontrol@deutsche-boerse.com.
 

Recipients:

All Xetra® Members and Vendors

Contact:

cmmarketcontrol@deutsche-boerse.com

Web:

 

www.deutsche-boerse-cash-market.com


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