Past version: Effective from 18 Sep 2012 to 14 Mar 2013
1. Introduction
1.1 In accordance with Rule 4.6.22, a Trading Member must ensure that its systems and connections to the Trading System operate properly, and have adequate and scalable capacity to accommodate trading volume levels.
2. Planning and Assessment Programs to Ensure Adequacy
2.1 In ensuring the adequacy of systems and connections to the Trading System, Trading Members should establish comprehensive planning and assessment programs to test system capacity and security. Trading Members should also possess appropriate technical expertise to maintain and operate systems and connections to the Trading System.
2.2 The scope of such programs should cover:—
(a) the establishment of capacity estimates for systems performing automated order routing, execution and market data functions. Such estimates should be based on a suitably long look-back period and historical activity;
(b) periodically conducting capacity stress tests to determine the behaviour of automated systems under a variety of simulated conditions;
(c) seeking on a periodic basis the assessment of independent reviewers with regard to whether Trading Members' systems are performing adequately and whether these systems have adequate security. Such independent reviewers may be any persons not involved in the operation of Trading Members' systems who have sufficient technical expertise; and
(d) implementation of policies for the hiring and training of qualified technical personnel. Such policies may take into account outsourcing arrangements where appropriate.
Added on 18 September 201218 September 2012.