Nasdaq OMX Cancels Mexico Travel As Exchanges Trigger Contingency Plans
April 27 2009 - 2:53PM
Dow Jones News
Nasdaq OMX Group Inc. (NDAQ) said Monday that it had cancelled
all business travel to Mexico, while other exchanges activated
contingency plans in case the swine flu outbreak escalates into a
pandemic.
The closure of financial markets in the wake of the Sept. 11,
2001, terrorist attacks has seen exchanges step up contingency
planning, including health emergencies that may force staff and
traders to work remotely or from home.
New York-based Nasdaq OMX joins a list of corporations worldwide
that are limiting travel to Mexico, the center of the swine flu
outbreak. The number of confirmed cases in the U.S. financial
center is expected to climb toward 100.
Silvia Davi, a spokeswoman for Nasdaq OMX, said fallout from the
outbreak is covered by its business continuity plan. Staff also
have been prepared for the possibility of telecommuting if the
problem deteriorates.
Contingency plans were also activated at other exchanges, though
officials declined comment on specific details, citing security
concerns.
Chicago-based CME Group Inc. (CME) on Monday circulated a memo
to employees and exchange members, passing along swine flu
information from the Centers for Disease Control and flu prevention
tips.
"We believe these proactive actions help to ensure the
well-being of the CME Group community," CME said in a
statement.
ChicagoFirst, a business continuity non-profit group that counts
CME, NYSE Euronext (NYX) and the Chicago Board Options Exchange as
members, distributed information from city and state officials.
"Exchanges and other members do have within their plans
work-from-home and telecommunications provisions," said
ChicagoFirst Executive Director Brian Tishuk, in an interview with
Dow Jones Newswires. "To the extent that's feasible, they do plan
to do that."
Tishuk said that member companies of ChicagoFirst, which has had
a pandemic working group in place since 2006, have tested their
crisis-response plans within the past year.
-By Jacob Bunge, Dow Jones Newswires; (312) 750-4117;
jacob.bunge@dowjones.com