(Article 48(1) of Directive 2014/65/EU)

1. Trading venues shall, in the context of their governance and decision making framework in accordance with Article 3, establish a business continuity plan to implement effective business continuity arrangements provided for in Article 15. The business continuity plan shall set out the procedures and arrangements for managing disruptive incidents.

2. The business continuity plan shall provide for the following minimum content:

(a) a range of possible adverse scenarios relating to the operation of the algorithmic trading systems, including the unavailability of systems, staff, work space, external suppliers or data centres or loss or alteration of critical data and documents;

(b) the procedures to be followed in case of a disruptive event;

(c) the maximum time to resume the trading activity and the amount of data that may be lost in the IT system;

(d) procedures for relocating the trading system to a back-up site and operating the trading system from that site.

(e) back-up of critical business data including up-to-date information of the necessary contacts to ensure communication inside the trading venue, between the trading venue and its members and between the trading venue and clearing and settlement infrastructures;

(f) staff training on the operation of the business continuity arrangements;