AURIGA USA, LLC'S BUSINESS CONTINUITY AND DISASTER RECOVERY PLAN DISCLOSURE
Auriga USA, LLC is responsible for creating and maintaining business continuity plan for its business. In the event of a major business disruption, we have plans designed to allow us to continue operations of critical business functions, such as entering client orders and completing securities transactions. We accomplish this in part by:
-- Relocating impacted businesses to designated recovery locations.
-- Using redundant processing capacity at other locations.
-- Designing our technology and systems to support the recovery processes for critical business functions.
-- Adopting a communications plan to ensure that Auriga USA personnel receive emergency notifications and instructions from a variety of sources, including in-building announcements, telephone contact, toll-free phone numbers and websites.
-- Testing our recovery procedures.
As part of our plans, we have identified systems or component parts of systems that are critical to each of our business activities. These applications are implemented in separate production and recovery data centers using industry-standard practices for data replication. Based on the level of criticality of the specific system or component part of that system, recovery times can range from real time recovery to next day. Here are a few examples of what might occur if we were to experience a business disruption of varying magnitude:
-- If we had an internal disruption such as a fire, flood or power failure within our building, we would relocate affected personnel to alternate locations and service our clients from those locations for the duration of the disruption.
-- In the event that our primary data center became unavailable for any reason, we would transition to a separate back-up location. Account access would be made available through the back-up location.
-- Our registered representatives will continue to take customer orders or instructions via telephone if service is available and, if our Web site is available, we will post customer service numbers to our Web site for customers to contact our representatives.
With regard to client assets, nearly all market-traded securities are held in central depositories (such as the Depository Trust & Clearing Corp. in the U.S.) or with custodian banks, rather than in physical certificates. Ownership of the securities is reflected on a book-entry record-keeping basis with our clearing agent Pershing, LLC, custodian banks or depositories' participants maintaining on their records the beneficial ownership positions of their customers.
Although we have taken significant steps to develop and implement sound business recovery plans, we cannot guarantee that systems will always be available or recoverable after a disaster or significant business disruption. However, we believe that our planning for such events is sound and consistent with industry best practices. If you have further questions regarding our business continuity plans, please contact your Pershing representative.