Search Results for keywords:"business continuity"

Found 2 results

Search Results: keywords:"business continuity"

💰 Only
Oldest Newest
  • 2021-00591 — Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing of Proposed Rule Change To Modify Phlx Options 8, Section 26, “Trading Halts, Business Continuity and Disaster Recovery”
    💰
    Type:Notice
    Citation:86 FR 3217
    Reading Time:about 42 minutes

    The Securities and Exchange Commission has issued a notice about a proposed rule change by Nasdaq PHLX LLC. The change allows for a "Virtual Trading Crowd" to operate when their physical trading floor is unavailable. This proposal, influenced by COVID-19, aims to ensure that trading can continue in a virtual environment similar to in-person open outcry trading. It includes measures for communication and security to maintain the integrity and smooth operation of the trading system.

    Simple Explanation

    Imagine a group of people who love to trade things with each other. They usually meet in a special place to do this, but because of something like a big sneeze that's happening everywhere, they can't meet there anymore. So, they want to meet online to trade, just like a video game chat, and they're making sure it's safe and fair for everyone who joins in.

  • 2021-01942 — Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 5.24
    Type:Notice
    Citation:86 FR 7580
    Reading Time:about 15 minutes

    The Cboe Exchange, Inc. has proposed a rule change, now immediately effective, to amend Rule 5.24, which deals with business continuity and disaster recovery plans. The change is primarily aimed at ensuring the exchange can transition smoothly to an all-electronic trading environment if their physical trading floor becomes inoperable, like during the COVID-19 pandemic. By extending the temporary rules to June 30, 2021, the Cboe Exchange hopes to maintain a fair and orderly market during such disruptions. The rule also allows for the potential use of a virtual trading floor if the physical one becomes unusable, ensuring continuity in trading practices.

    Simple Explanation

    The Cboe Exchange is making sure that if their regular trading place is closed, like during the pandemic, they can keep trading online to make everything fair and work smoothly. They've got some special rules to handle this and plan to keep these rules in place until the end of June 2021, so that they can keep working without problems even if they can't use their usual space.