OCBC Securities reveals IT resiliency gap with recent two hour outage
Hosting facility’s power disruption leaves customers and brokers in the dark. February 02, 2012 | Aldo JosonA power outage caused a two hour disruption of trading services for OCBC Securities on January 26th 2011. Customers were unable to either trade shares through the brokerage’s website or buy stocks through their trading representatives until 11:00 am when connection from its trading system to the Singapore Exchange was progressively restored. Banks and other financial institutions need to allocate part of their annual budgets to provide IT infrastructure that improve the resiliency of their systems in face of natural disasters and calamities. After the disastrous earthquake in Japan in 2011, the payment and remittance systems of the largest banks were able to handle the increased volume of transactions except for Mizuho Bank. Mizuho Bank had to shut down its entire ATM network and request as... Please login to read the complete article. If you already have an account, you can login now or subscribe/register.
Categories: Data & Analytics, Data Management, Operational Risk & Security, Risk and Regulation, Technology & OperationsData & Analytics,Data Management,OperationalRiskSecurity,Risk and Regulation,technology, Data & Analytics,Data Management,Operational Risk & Security,Risk and Regulation,Technology & Operations, Keywords:OCBC Securities, Trading Disruption, ATM Network, IT Infrastructure, Mizuho Bank OCBC Securities, Trading Disruption, ATM Network, IT Infrastructure, Mizuho Bank
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