Business Continuity

Core to Cboe Clear Europe's mission is the provision of outstanding risk management, capital and operational efficiencies for the benefit of members, clients and venues. In order to achieve these goals, safeguarding the continuity of clearing services is fundamental. It is with this in mind that Cboe Clear Europe has designed its business continuity arrangements to manage disruptions of all magnitudes to its services. Key objectives during a business continuity incident or crisis are to ensure staff welfare and confidence, enable continuity of business critical processes, maintenance of full information, communication and technological (ICT) infrastructure and service provision, maintain client, shareholder and stakeholder confidence and fulfil regulatory requirements. A Crisis Management Team is in place to manage effective and timely response to a disruption. The business continuity arrangements are ISO 22301 certified and are externally reviewed annually in accordance with Cboe Clear Europe's internal governance process. A copy of the ISO 22301 certification is available here.

Cboe Clear Europe's Crisis Management & Recovery Plan is central to its business continuity arrangements and includes incident management as well as recovery plans that are Business, IT and Cyber Incident specific, which have been developed to be scenario independent with the goal of providing continuity and timely resumption of critical operations and IT systems. Recovery strategies include remote working/alternate workplace arrangements and two data centres with different geographic risk profiles. Testing of Cboe Clear Europe's crisis management capabilities takes place at least annually and Cboe Clear Europe staff receive regular training, in accordance with a calendar of training sessions, tests and exercises, including emergency communications, work from home capabilities, building evacuations and IT disaster recovery. Cboe Clear Europe may perform ad-hoc tests where a new risk to its business continuity or a material change to its critical processes is identified.