Business Continuity Update: Avian Flu Preparedness

Donald F Donahue

Like firms across the financial services industry, DTCC has expanded its business continuity planning to ensure readiness in the event the avian flu virus becomes a threat.

Donald F. Donahue, DTCC’s chief operating officer, recently issued a communication to customers about DTCC’s contingency planning in the event this virus would ever pose a threat to the industry and customers.

“A principal goal, of course, with business continuity and contingency planning, is to safeguard our ability to support the critical clearing, settlement and asset servicing operations required by our customers – no matter what,” Donahue said.

Emphasizing that this plan is in keeping with DTCC’s extensive business continuity practices, Donahue said, “It is impossible to predict if the avian flu virus would ever mutate into a form that can easily spread from person to person, but DTCC believes it is only prudent that we and our customers have adequate response plans in place. The business impact of an outbreak can be lessened if preparations are made ahead of time.”

DTCC’s plans focus on preserving the continued operation of all essential services throughout the period of any avian-flu-related emergency, according to Donahue. He also noted that the company is working closely with federal authorities, and with state and local agencies where it has facilities, as they prepare for the potential of a widespread outbreak of illness from this virus.

To read the full text of Donahue’s communication, visit www.dtcc.com. Under Customer Focus, click Important Notices. It is notice Z#0018, dated January 27, 2006.  @