Finances
Equity Trader Alert #2025 – 81 Nasdaq Announces Regulation SCI BCP/DR Testing
As announced in ERA #2025-2, Nasdaq will host its annual Business Continuity and Disaster Recovery Plan test on Saturday, October 25, 2025.
Designated Members
Nasdaq notified the Designated Members that are required to participate in this test in April 2025; however, all members are encouraged to test. If you are unsure whether your firm is required to participate, please contact Equities Trading Services at +1 212 231 5180 or U.S. Market Operations – Options at +1 215 496 1571.
Designated Members (required participants) are expected to test and validate that their systems will function and perform appropriately in a disaster recovery event. In addition, Designated Members are required to provide a confirmation of participation in the test as well as a checklist of activities performed, to Equities Trading Services. or Options Help Desk.
The test plan can be found at SIFMA Regulation SCI BCP/DR
Test Plan.
Members wishing to participate in the annual Business Continuity and Disaster Recovery Plan, please contact
Equities Trading Services at +1 212 231 5180 or U.S. Market Operations – Options at +1 215 496 1571 for more information.
Testing Plan
System Availability
Nasdaq Markets (The Nasdaq Stock Market, Nasdaq BX, Nasdaq PSX, Nasdaq PHLX, Nasdaq BX Options, The Nasdaq Options Market, Nasdaq ISE, Nasdaq GEMX, and Nasdaq MRX) will be available for testing. All order entry methods and market data feeds will be available for testing via the Chicago Data Center. Members will be able to connect at the same order acceptance times that are published with the production system settings for each exchange.
Test Schedule
- 09:00 AM ET – Pre-open Session Begins
- 09:30 AM ET – Opening Cross, Market Hours
- 10:00 AM ET – IPO “ZWZZT”
- 10:30 AM ET – IPO “ZXZZT”
- 01:00 PM ET – Closing Cross, After-market Session Begins
- 02:00 PM ET – Trading Session Ends
Test Activities
Equities Members/Participants are encouraged to validate the following as appropriate to their BCP/DR plans:
- Connectivity
- Trading
- Market Data
- Opening Cross participation
- IPO Participation (10:00 AM ET or 10:30 AM ET)
- Closing Cross participation
- After-market participation
Options Members/Participants are encouraged to validate the following as appropriate to their BCP/DR plans:
- Connectivity
- Quote Entry
- Order Entry
- Simple Order Entry
- Complex Order Entry
- Auction Order Entry
- Trading
- Opening Process participation
Please contact Equities Trading Services at +1 212 231 5180, U.S. Market Operations – Options at +1 215 496 1571, or U.S. Market Sales at +1 800 846 0477 with any questions.