Anthony Tassone

The problem with DR plans is that it is unrealistic to expect an entire office to pick up and move to another location and/or even another state in the midst of a catastrophe. Most employees are concerned first and foremost with the safety of their families, which is fully understandable. More than one trader has said to me that they have no desire or intention to follow a disaster recovery plan and leave their home if there is any issue as to the safety of their families.

Voice brokers in OTC derivatives are under pressure from FCMs to screen customers for pre-trade risk limit, but they lack the technological means to carry this out. Meanwhile, it's ambiguous as to when a voice execution actually occurs.

Solution to HFT Debate: Match Based On Price & Quality, Not Time.

"... trader voice is a generic name given to a set of voice communication capabilities specifically designed for brokers and traders. It is a critical tool that enables market participants to communicate with one another on secure, recorded lines that span the globe."

Originally, attorneys and compliance professions only had to concern themselves with email. But, over time new technology was introduced in which employees could document their random thoughts for everyone to see, through such media as instant messaging (“IM”), chat rooms, etc. While these new inventions generally increased employee productivity, they also created new headaches for lawyers, compliance professionals and regulators.

Unfortunately, history has shown that some financial market par?ticipants have not taken the disaster recovery requirements as seriously as they should. It’s ironic that certain firms within the derivati?ves industry – which have as a primary purpose of minimizing risk and providing a form of insurance for the marketplace – find themselves unprepared with their own disaster recovery plans. As a result, the NFA has not been shy about fining its members for not having a disaster recovery policy in… Show more

Unfortunately, history has shown that some financial market par?ticipants have not taken the disaster recovery requirements as seriously as they should. It’s ironic that certain firms within the derivati?ves industry – which have as a primary purpose of minimizing risk and providing a form of insurance for the marketplace – find themselves unprepared with their own disaster recovery plans. As a result, the NFA has not been shy about fining its members for not having a disaster recovery policy in place. Show less