Direct Edge ECN LLC has developed a Business Continuity Plan designed to be activated upon the occurrence of events that significantly disrupt our business. With such an occurrence Direct Edge ECN, trading will be suspended, and during the time of outage will reject any incoming order.
Contacting Us — If a business disruption occurs, there are two ways to contact us:
1) Telephone: 201.942.8200; or
2) E-mail at service@directedge.com.
The operation of Direct Edge ECN is such that no customer cash or securities are maintained at Direct Edge ECN (or our clearing firm). If for any reason our clearing firm holds your cash and securities and you cannot access us through either of the above means, you should contact our clearing firm, Merrill Lynch, Pierce, Fenner & Smith Incorporated at www.broadcort.com or 201.557.4291 for instructions on how to promptly access to your funds and securities, enter closing orders, and process other trade-related cash and security transfer transactions.
Direct Edge ECN's Business Continuity Plan is designed to permit our clients to have access to Direct Edge ECN as they normally would and for Direct Edge ECN to resume operations as quickly as possible, given the scope and severity of the significant business disruption. We plan to quickly recover and resume business operations after a significant business disruption and to respond by safeguarding our employees and property, making a financial and operational assessment, protecting the firm's books and records, and allowing our clients to transact business.
Our business continuity plan addresses the following: data backup and recovery; all mission critical systems; financial and operational assessments; alternative communications with clients, employees, and regulators; alternate physical location of employees; critical supplier, contractor, bank and counter-party impact; regulatory reporting; and assuring, if applicable, our clients' prompt access to their funds and securities if we are unable to continue our business.
Our clearing firm, Merrill Lynch, Pierce, Fenner & Smith Incorporated, backs up most of our trade-related records in a geographically separate area. While every emergency situation poses unique problems based on external factors, such as time of day and the severity of the disruption, we have been advised by our clearing firm that their objective is to restore their own operations and be able to complete existing transactions and accept new transactions and payments within one (1) business day. Please be advised that any orders and requests for funds and securities could be delayed during any recovery period.
Varying Disruptions — Significant business disruptions can vary in their scope, and may affect only our firm, a single building housing our firm, the business district where our firm is located, the city where we are located, or the whole region. Within each of these areas, the severity of the disruption can also vary from minimal to severe. In the event of a disruption to only our firm or a building housing our firm, we will transfer our operations to a local site when needed and expect to recover and resume business within 24 hours. In a disruption affecting our business district, city, or region, we will transfer our operations to a site outside of the affected area, and recover and resume business within 72 hours. In either situation, we plan to continue in business, transfer operations to our clearing firm if necessary, and notify you through our Web site, www.directedge.com, or our client emergency number, 201.942.8200. If the clearing firm for Direct Edge ECN holds and maintains clients' cash and securities, and if the significant business disruption is so severe that it prevents us from remaining in business, we will endeavor to obtain prompt access to client funds and securities.
For more information — For more information about our business continuity planning, please contact Client Service at 201.942.8200 or e-mail us at service@directedge.com.