BUSINESS CONTINUITY SUMMARY
As part of our ongoing commitment to our clients, we provide an overview of the BCP (Business Continuity Plan) for Lightspeed Professional Trading, LLC.
BUSINESS PURPOSE
On April 7, 2004, the Securities and Exchange Commission approved NASD Rules 3510 and 3520 which require member firms to create and maintain a business continuity plan. A business continuity plan is a plan that will enable the firm to continue its business operations in the event of a significant business interruption.
BUSINESS CONTINUITY COMPONENTS
Lightspeed Professional Trading, LLC has evaluated the impact of business interruptions resulting from various events including, but not limited to, loss of facilities and resources. The BCP was developed by identifying methods to protect and restore critical business processes, records, data and systems to allow customers to transact business. The plan identifies roles and responsibilities for a variety of critical recovery situations, provides for contingencies to continue critical function, outlines steps to resume business while minimizing impact to our clients and provides for recovery procedures in case of long term outages.
A third party provider, Southwest Securities, LLC is utilized for customer records, transactions, custody of funds and securities and operating systems. Southwest Securities, LLC has a business continuity plan with system redundancy and back-up facilities. For more information about Southwest please refer to their website at http://www.southwestsecurities.com.
The BCP addresses the following key elements:
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Data Back-Up and Recovery |
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Identification of Mission Critical Systems |
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Financial and Operational Assessments |
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Alternate Communications with Customers |
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Alternate Communications with Employees |
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Alternate Physical Location of Employees |
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Impact of Critical Business Counter-Parties |
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Regulatory Reporting |
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Communications with Regulators |
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Customer Access to Funds and Securities |
RECOVERY STRATEGY
In the event of a business interruption, Lightspeed Professional Trading, LLC has plans and teams in place to address the immediate response to the incident, the management of the situation from the time of the incident until the matter is resolved, and a business unit and information technology recovery plan.
The data recovery plan includes maintenance of redundant real-time system facilities. The staff and workspace recovery plan includes the relocation of critical personnel to alternate sites.
Whatever the event, our BCP is designed to enable the firm to be operational within 24 hours or less after a business interruption assuming that third party providers and industry critical systems are operational.
UPDATES AND TESTING
The Lightspeed BCP will be reviewed and tested annually at a minimum. Modifications and updates will be made to incorporate any material business change or regulatory requirement.
INFORMATION REQUESTS
Lightspeed Professional Trading, LLC will continue to post general information and updates about our BCP on our website: www.lightspeedtrading.com
In addition, you may request an updated BCP plan summary by mail. Send your request to Lightspeed Professional Trading, LLC, Attn: Business Continuity, 148 Madison Avenue 9th Floor, New York, NY 10016.