SIFMA and the Financial Information Forum will lead the annual securities industry-wide business continuity test on Saturday, June 7, 2008.

SIFMA says that the format of the 2008 test will be similar to the 2006 connectivity test, ‘but the 2008 test will include a simulation of a delayed opening of exchanges and markets as might occur in an emergency or a National Day of Mourning’.

During the test, firms, service bureaus and exchanges/markets will connect simultaneously using backup data centers, backup communications links, alternate trading sites and alternate operations facilities to place test orders, receive simulated executions and conduct settlement interactions.

Futures exchanges will test separately later in 2008 but SIFMA says that it is intended that there will be common test dates in future years.