Business Continuity System has been developed to minimise the operational risk to which KDPW_CCP is exposed
Deterioration in the standard and reliability of services caused by force majeure events (accidents or intentional conduct, natural disasters, etc.) may result in disruptions in the operation of the market and discontinuity in the provision of certain services to market participants, which may lead to loss of both domestic and foreign investor confidence. With a view to minimising the operational risk to which KDPW_CCP is exposed, a Business Continuity System (BCS) has been developed, which consists of technical and organisational measures enabling the maintenance of the continuity of, or promptly restore, critical business processes following a serious breakdown or disaster, and to minimise the impact of the failure on the operations of the KDPW Group and other capital market institutions.
Business Continuity System for the KDPW Group
Business continuity tests are organised once a year by KDPW_CCP in cooperation with the institutions operating in the financial market and with the participation of market participants. The test will check the contingency solutions and procedures applicable in the event of a crisis where the capital market infrastructure institutions need to relocate their operation to the back-up sites. The periodic testing is required under the law and the generally accepted standards.
Information on the KDPW Group Business Continuity System test on 23 November 2019