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IEX Announces Regulation SCI BCP/DR Testing

IEX Trading Alert #2016 - 019

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What you need to know:

  • In accordance with Regulation Systems Compliance and Integrity (“ Reg SCI ”), Investors Exchange (the "Exchange") will conduct testing of its Business Continuity and Disaster Recovery Plans during the  Saturday, October 15, 2016 planned SIFMA industry-wide test.
  • While IEX encourages all members of the Exchange ("Members") to participate in testing, IEX is required to designate certain Members whose participation in the industry-wide annual Business Continuity and Disaster Recovery Plan test is mandatory.
  • Pursuant to IEX Rule 2.250 (Mandatory Participation in Testing of Backup Systems), IEX has established standards for the designation of applicable Members that are required to participate in the annual Business Continuity and Disaster Recovery Plan test. These standards are as follows:
    • The Exchange designates Members (as of the Exchange launch date on August 19, 2016) that, based on volume executed on the IEX ATS during the  six (6) calendar months from December 2015 - May 2016, inclusive, represent 5 % of IEX ATS ADV (IEX has contacted such designated firms and notified them of their requirement to participate).

How can participants connect to the IEX Disaster Recovery environment?

IEX invites all Members to connect to the IEX Disaster Recovery ("DR") environment.  Members should contact Market Operations to establish connectivity to the DR environment in one of two ways:

  • via cross connect: Members must complete and submit a Physical Connectivity Order Form to IEX Market Operations.
  • via extranet: Members must first contact their extranet provider to arrange connectivity and then IEX Technology Operations & IEX Market Operations for the target IP address.

See the Investors Exchange Connectivity Manual for additional details on IEX's approved extranet and telecommunications providers.  

Participants will not require additional sessions for the DR environment, however specific IP addresses are assigned for DR environment.

Where is the DR environment located?

  • The DR environment is located at the Equinix (CH4) data center, 350 E. Cermak Road, Chicago, IL.

What functionality is available in the IEX DR environment?

  • The DR environment supports all matching and routing functionality offered by the Exchange.  Additionally, direct data feeds offered by the Exchange are available from the DR environment.
  • Unlike the primary trading environment (where direct feeds are utilized), the DR environment utilizes the Securities Information Processor ("SIP") for quotation data.
  • Additional information regarding the DR Environment and establishing connectivity can be found in IEX Rule 11.510 and the Investors Exchange Connectivity Manual.

When should participants trade via the DR environment?

IEX will advise Members when they must submit orders to the DR environment. Migration to the DR environment will be on a T+1 basis until further notice.

Where can I learn more?

About IEX

Dedicated to institutionalizing fairness in the markets, IEX provides a more balanced marketplace via simplified market structure design and cutting-edge technology. IEX operates a fair-access platform accessible by any qualified broker dealer. IEX is driven by a team of cross-industry experts with backgrounds spanning market venues, electronic trading, and broker-dealers. IEX is the first equity trading venue seeded exclusively by a consortium of buy-side investors, including mutual funds, hedge funds, and family offices. Learn more at: iextrading.com.