Industry BCP/DR Test€¦ · Industry BCP/DR Test Test Date: October 26, 2019 All Participants...

Industry BCP/DR Test

Test Date: October 26, 2019

All Participants Meeting No. 2

September 11, 2019

2

Meeting Agenda

• Introduction

• Project timetable

• Test scripts

• Service provider information overview

• Crisis Communication Centre

• Test day conference bridge

• Post-test reporting

• Recap of Participants Responsibilities & Information Requirements

• iMeet Central Desktop portal overview

• Question Period

3

Introduction

• Dealer Members perform annual BCP tests as required by IIROC Rule 17.16 and if subject to Part 12.4.1 of NI 21-101 Marketplace Operation must participate in IIROC’s biennial industry BCP test

• Dealer Members perform annual connectivity tests with key suppliers, vendors and market infrastructure utilities

• Service Providers and Utilities perform failover tests and provide access for members to test on backup site and play an integral role in assisting IIROC Dealer Members with industry and internal BCP/DR testing

• 2019 Industry Test is one component of the BCP/DR testing carried out by members to

satisfy their regulatory requirements

• 2019 Industry Test is the 6th such event in a 12 year plan to test potential disruptions to

the capital markets in Canada

4

Test Scenario

The planned scenario for 2019:

• IIROC's Dealer Member participants are testing from their

production / primary facilities

– Some members are choosing to test from back-up / BCP locations

and

• Service providers are testing from back-up / DR sites

– Exceptions are being accommodated – where a rationale has been

provided

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We will not:

• Stress test the capacity of the markets or back-up sites

• Test every transaction variant used in normal markets

• Test TSX Smart Order Routing

• Test MQ with CDS

• Test redundancy of telecommunications infrastructure

• Perform latency testing for Equity transactions

• Perform any batch processing for transactions executed during the test

• Settle trades or move money

• Test debt transaction reporting through MTRS

6

Test Scope

• Products being tested include: CDS Equity Trade & Settlement, Equities,

ETF’s Fixed Income, Futures, GIC’s, Mutual Funds, Options, REPO

• Some members are testing selected back-office transactions

• Retail and Institutional functionality

• Manual order routing and selected smart order routing

• IIROC Crisis Communication Centre (CCC)

• IIROC Market Surveillance

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2019 IIROC Industry Test Market Infrastructure

CDCC

Member2Member1Carr.

Member3

CARR.

Member4Member5 Member 60

ITS IRESS Fidessa

Alpha

TSX

TSX VNASDAQ

Omega

Tri-Act

CSE

Broadridge

MX

Intro

Member2

Intro

Member1

FundSERV

SSC

Net

CannexCandeal

IIROC Surveillance

IIROC CCC

Message

Perimeter

IBM CDS

NEO Exchange

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Differences from normal trading

• Trade Date Monday October 28, 2019 for:

– TSX, TSX-V, Alpha

– FundSERV

• Test symbols for Equities, Mutual Funds, Options, Futures, ETF

• Smart Order Routing for TSX not available (SOR provided by other

utilities will be available)

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Project Timetable

Feb. – April M ay – O ct. O ctober 26 O ct. – Dec.

Design Build Perform Assess

• Scenario

• Objectives

• Enlist Participants

• Document test

structure

• Trans. test scripts

• Develop Test Plan

• Support infrastructure

• Develop success

criteria

• Perform pretests

• Implement test

support

• Perform test

• Document test

results

• Collect feedback

• Create final test

report

10

Project Milestones & Deliverables

Design PhaseDate Deliverable

Completed Scenario, Objectives

Completed Participant list (members & service providers)

Completed Participants questionnaire templates created (in Word and

in Portal)

Completed Transaction profiles

Completed April 3 All Participants meeting

Build PhaseDate Deliverable

Completed Participant questionnaires to be completed and submitted in the portal

Completed Participants Matrix – mapping members to service providers members

In progress Test Scripts being collected and reviewed

In progress Support Plan being built for use on October 26

In progress Working Group to finalize test results and feedback forms

Sept. 11/Oct. 16 Second and Third All Participants meeting, respectively

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Project Milestones & Deliverables

Perform Phase

Date Deliverable

Sept - Oct: Connectivity pre-testing (subject to service provider availability)

October 9: Confirm final test specifications with Working Group

October 26: Perform test

Assessment Phase

Date Deliverable

October 31: Collect test results from participants

October 31: Collect participant feedback from participants

December 30: Complete drafting of test report

January: Archive project artifacts

12

Test Scripts

• Utilities provide essential trade transaction testing specifications and

details to dealer members via test scripts

• Dealer members may wish to create their own internal test scripts based

on the utility scripts, but it is not required to file them with IIROC

• Dealer Members must review all utility scripts relevant to their own

testing in detail – raise any questions or concerns immediately with the

utility concerned

• The deadline for utilities to submit final scripts is September 30th

• It is intended to approve all utility test scripts as final versions at the

Working Group meeting on October 9th – any issues must be resolved

prior to that date

13

Test Scripts - continued

• Draft scripts currently posted in the portal:

– TSX, TSX-V, Alpha

– MX

– CDS Equity / Debt Trade Entry, Confirmation & Settlement

– CDCC

– CDS - CDCC REPO

– CSE

– Nasdaq (CXC, CX2, CXD)

– CANNEX

– NEO Exchange

– MatchNOW (Tri-Act)

– FundSERV

– Candeal

– Omega

– Perimeter

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Utility Information – TMX Group

• Toronto Stock Exchange (TSX)– TSX will offer two connection periods: an early one that will connect to the

primary site, and a later one that will connect to the DR site.

– Times and system availability will be as follows (all times in EDT):

7:00 – 8:45 a.m. Access to primary Market in pre-open

8:45 – 9:00 a.m. Disaster simulation Market out of service

9:00 – 11:00 a.m. Failover to DR Market out of service

11:00 – 1:00 p.m. Orders accepted in DR Market in pre-open

1:00 – 2:45 p.m. Trades accepted in DR Market in post-open

• Trade date: Monday, October 28, 2019

• Transactions: minimum 5, maximum 25, using test symbols provided

• Dealers should confirm participation and identify test day contacts at least 1 week prior to the test

• Connectivity pre-testing available 11:00 – 1:00 Saturday, September 14

Test Day Contacts:

• TSX Vendor Services Dept. – 416-947-4705 or [email protected]

• TSX Trading Services – 416-947-4357 or [email protected]

mailto:[email protected]


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• Toronto Venture Exchange (TSX - V)– TSX-V will offer two connection periods: an early one that will connect to the

primary site, and a later one that will connect to the DR site.











Test Day Contacts:





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• ALPHA

– Alpha will offer two connection periods: an early one that will connect to the primary site, and a later one that will connect to the DR site.











Test Day Contacts:





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• Montreal Exchange (MX)

– MX will offer two connection periods: an early one that will connect

to the primary site, and a later one that will connect to the DR site.


7:00 – 8:40 a.m. Access to primary Pre-open

8:45 – 11:00 a.m. No Access Market out of service

(disaster simulation and recovery)

11:00 – 1:30 p.m. Access to back-up Trading

• System date: October 26, 2019

• Trade date: October 26, 2019

• Minimum 2 transactions (script has 5 transaction types to choose from)

Test Day Contacts:• Technical: Technical Help Desk : Toll free 1-877-588-8489 / Local 514-871-7872

• Business: Market Operations Department : Toll free 1-866-576-8836 / Local 514-871-7877

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• Canadian Derivatives Clearing Corp. (CDCC)

o CDCC will recover to its DR site

o Markets will be in Pre-Open until 11:00 am EDT

o Markets will be open in DR from 11:15 am to 1:30 pm EDT

o Trade data will flow from MX to CDCC’s SOLA® Clearing system

o Minimum 2 transactions

o No trades executed during the test will be valid

o All participants MUST clean up all backend/DR systems after testing

o Batch process at 2:00 pm

o MX/CDCC FTP servers will remain available from 3:00 pm

Test Day Contacts:• Technical: Technical Help Desk : Toll free 1-877-588-8489 / Local 514-871-7872

• MX Business: Market Operations Department : Toll free 1-866-576-8836 / Local 514-871-7877

• CDCC Business: CDCC Operations Lines: 514-871-3545 or 416-367-247

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• Canadian Depository for Securities (CDS)

• CDS scope is Equity / Debt Trade Entry, Confirmation & Settlement

– Manual testing via CDSX 3270 “green screen” sessions

– Non-exchange trades only

– MQ Series messages not in scope

– Trade file batch processing not in scope

– Money Market issue set-up not in scope

– Connectivity testing available Saturday, September 14, 2019. Test times:

11:00 am to 1:00 pm.

• CDSX will be available in DR mode from 11:00 am to 1:00 pm

• Note: Hard stop at 1:00 pm. No testing after 1:00 pm

Test Day Contacts: TBD

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Utility Information – Nasdaq Canada

• Nasdaq CXC, CX2 and CXD

• Participants will be able to test their access to the system

• Orders will be accepted with responses sent to participants (orders and trades)

• All Canadian listed symbols will be made available

• Liquidity will be created for test symbols, provided in the script

• Minimum 5 and maximum 25 trades

• System and Trade date: October 26

• Start/end times: 09:30 – 14:00

• The start of the test will use the Nasdaq DR system. This is for internal purposes only. There is no impact to the order entry and connectivity requirements for participants.

Test Day Contacts:

[email protected] 647-243-6255 / 1-888-310-1560

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Utility Information – Omega ATS

• Participants will be able to test their access to the system

• Orders will be accepted with responses sent to participants (orders and

trades)

• All Canadian listed symbols will be made available

• Liquidity will be created for test symbols (listed below)

– EYZ.C ZYZ.C AYQ.A



• Transactions: minimum 5, maximum 25

• Test day contacts:

– [email protected]

– Support line: 416-646-2428


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Utility Information – MATCHNow (Tri-Act)

• Send at least one order

• Receive standard Fix Protocol response

• Clients can use any Canadian listed symbol


• 8:00 – 9:30 Pre-open

• 9:30 – 13:00 Regular trading session

• System to be used: MATCHNow DR infrastructure

• Transactions: minimum 1 trade (or more if client requires)



– Support line: 416-861-1010


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Utility Information – CSE

• Enter an equity trade at the normal order entry screen

• Trade to be processed by the normal order management system

and transmitted to the CNSX Trade confirmation to be sent by the

CNSX back to the member firm


• Start/end times:

– Vendor queries: 08:00

– Open / Close: 09:30 – 16:00

• Transactions: minimum 5, maximum 25



– Support line: 416-722-0085


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Utility Information – CANNEX

Test components:

• Connectivity & Log in

• File Transfer

• GIC Order Event File Validation

• E-mail Notification of the GIC Order Event File Validation Log

• One GIC Order Event File – recommend that the dealers submit their production file from Friday, October 25, 2019 through their regular production sftp account.

– The file will be validated but will reject as the orders will be redundant.

– An e-mail notification will be send back to the production email list acknowledging receipt of the file (a test email list can be configured if requested by the dealer member).

• System date: October 25

• Trade date: October 26

• Start/end times: 09:00 – 12:00 (or until test completion)


– [email protected] 416-254-0732


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Utility Information – FundSERV

• Test: Fund Order (Purchase/Redemption) and File Transfer using standard method:

– FundSERV web portal

– Batch File (CO File) upload using web portal *

– Interactive Real-Time Channel*

– Test trade with an internal FundSERV Fund company test code – YYY. • Expected return code is N00 FundSERV/Network accepted

• Initiate a file transfer retrieval of the file RSP000FSRV.10261YYY9.Z01 using your standard method:

– The file will be void of any pricing details

– Use the FundSERV web portal to download the file

*FundSERV checks the originating IP address. If your DR is coming from a different IP, please advise FundSERV ahead of time, so that your IP can be added to the appropriate security table three weeks prior.

• System date: October 26, 2019

• Trade date: October 28, 2019

• Transactions: Minimum 2 orders, 1 transfer


– Tech Support Desk: 1-800-267-3526

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Utility Information – NEO Exchange

• Enter a minimum of 1 order for an NEO-listed equity symbol and a NEO-listed debenture symbol on the NEO-L market, NEO-N market and NEO-D market (total of 6 orders minimum)

– Test symbols provided in script

• Orders will be processed; execution reports will be sent back to client via FIX session and public market data


• Market data available: 09:00

• Opening auction: 09:30

• Trading: 09:30 – 13:00



– Tech Support Desk: 416-933-5950

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Utility Information – Candeal

• Testing Fixed Income Trading

• Initiate and execute one Buy & one Sell per trading platform

(Evolution and CanDeal) and observe / confirm Post Trade message

flow

– i.e. 4 transactions total per dealer




[email protected]

416-814-7831/866-422-6332


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Utility Information – Perimeter / CBID

• Testing connectivity & log in; trade execution; STP where required

• Firms can submit orders against bids and offers provided in the

respective market for the test instrument.

• Two markets will be available for testing depending on the users

requirements. CBID Institutional and CBID Retail.

• Minimum 2 transactions (buy / sell)




[email protected]

Bridge line to be provided.


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Crisis Communication Centre (CCC)

• Advance notification of October 26, 2019 CCC test to be sent to all

CCC test contacts in mid-October

• CCC test contacts will receive an e-mail early morning on October

26, 2019 and will be asked to respond to the e-mail message

• We expect all CCC test contacts to respond to the message and will

be reporting on the response rate

• CCC test contacts have been identified in the Dealer Member and

Service Provider questionnaires available in the iMeet portal 2019

Workspace

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Test Day Conference Bridge

• Opens at 7 am on October 26, 2019

• Staffed at the IIROC offices throughout the test

• Dial-in local: 416-933-9440

• Dial in LD: 1-855-453-6959

– Conference ID no. 1034330 #

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Post-Test Reporting

• Each Service Provider and Dealer Member processing simulated

transactions must submit the applicable test results form containing

the results of their test day activities:

– Dealer Member Test Results Form

– Service Provider Test Results Form

• Test Result forms submission deadline is Thursday Oct. 31, 2019

• Test Feedback forms submission deadline is also Thursday Oct. 31,

2019

• Submit both forms to [email protected]

• Test result forms and feedback forms will be finalized by the

Working Group and posted to the iMeet portal prior to the next All-

Participants Meeting on Wednesday Oct. 16, 2019


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Recap of Participant Responsibilities &

Information Requirements

1. Review information in the matrix for accuracy

2. Review test scripts for sufficiency and accuracy

3. Conduct internal / provider connectivity pre-testing (where applicable)

4. Deploy and coordinate test resources on test date

5. Confirm all external provider availability on test date

6. Respond to the scheduled CCC communication at the start of the test

7. Perform Test

8. Complete and submit test results and feedback forms

9. Attend post test reception in Toronto (Location TBD)

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iMeet Central Portal Overview

• Project portal is available to all test participants

• Single User ID has been assigned to the primary contact of each

participant

• User ID can be shared with all those involved in your company

• Multiple concurrent sessions for one account are permitted

• Participants can read and print material from the iMeet Portal 2019

Workspace

• The portal is the definitive source for test information

• First level portal support: Des O’Callaghan ([email protected])

• Note: The conference bridge will be the primary communication tool

utilized on test day


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Your Questions

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