2.1.1
Rule 4.12.1 requires Members to maintain adequate business continuity arrangements, and document such arrangements in a business continuity plan. As a guide, a Member's business continuity plan should document the following elements:
Added on 3 June 20193 June 2019.
2.2.1
A Member should establish and maintain a crisis management plan as part of its business continuity plan. The crisis management plan should include (but not be limited to):
Added on 3 June 20193 June 2019.
2.2.2
SGX-ST may declare a wide-area crisis in the event of a major and widespread incident. When such declaration is made, SGX-ST may require a Member to submit status reports to SGX-ST. A wide-area crisis may include any incident where the operations of a large number of market participants are disrupted simultaneously.
Added on 3 June 20193 June 2019.
2.3.1
Rule 4.12.1 also requires a Member to review and test its business continuity plan regularly. Members should do so at least once a year to ensure that their business continuity plans remain relevant.
Added on 3 June 20193 June 2019.
2.3.2
Where there are material changes to a Member's business activities and operations, the Member should update its business continuity plan accordingly. Regular training should be conducted for staff to be updated and aware of any relevant changes to the Member's business continuity arrangements. As a principle, training should be conducted when:
Member firms should also conduct refresher courses for existing staff where appropriate.
Added on 3 June 20193 June 2019.
2.4.1
The features of a business continuity plan set out in paragraphs 2.1, 2.2 and 2.3 may not be applicable to a Remote Trading Member. A Remote Trading Member should meet any applicable business continuity plan requirements that are prescribed by its Relevant Regulatory Authority. The Trading Member may further adopt the recommended features of a business continuity plan set out in this Practice Note 4.12.
Added on 3 June 20193 June 2019.