UPDATE:Nasdaq OMX Temporarily Halts Business Travel To Mexico
April 27 2009 - 6:06PM
Dow Jones News
Nasdaq OMX Group Inc. (NDAQ) said Monday it has put a temporary
moratorium on business travel to Mexico, while other exchanges
activated contingency plans in case the swine flu outbreak
escalates into a pandemic.
Exchanges have stepped up contingency planning, including for
health emergencies that may force staff and traders to work from
home or a remote location, since the Sept. 11, 2001, terrorist
attacks closed U.S. financial markets for several days, .
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 New York may climb
toward 100, but the cases so far have been confined to a parochial
school in Queens.
Silvia Davi, a spokeswoman for Nasdaq OMX, said the exchange is
reviewing all business travel plans in light of the swine flu
situation, ensuring employees steer clear of Mexico.
In a memo circulated Monday, Nasdaq OMX staff were also prepared
for the possibility of telecommuting if the problem deteriorates,
she said.
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 its own
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), the Chicago Board Options Exchange and
the Options Clearing Corp. 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 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