OneChronos recognizes the importance of system and process resilience in operating regulated trading venues. Accordingly, we maintain a Business Continuity Plan (“BCP”) defining how we will respond to events that significantly disrupt our business. Since the timing and impact of disasters and disruptions is unpredictable, we will have to be flexible in responding to actual events as they occur. With that in mind, we are providing you with this information on our business continuity plan.
Contacting Us
If after a significant business disruption you cannot contact us as you usually do at ops_europe@onechronos.com or +44 (020) 7078 8689 (UK) or +31 (9) 70 10 25 82 88 (NL), you should contact our compliance_europe@onechronos.com or your usual OneChronos contact for instructions on how to assist in the resolution of any transactional questions and issues resulting from the disruption. This includes if you have any questions about or business continuity planning.
Our Business Continuity Plan
OneChronos Markets UK Limited and OneChronos Markets NL B.V. (the “Firm”) maintains a BCP designed to ensure the continued operation, or rapid recovery, of its Multilateral Trading Facilities (“MTF”) in the event of a disruption. The purpose of the BCP is to support orderly trading, maintain market integrity, and ensure that critical systems and data remain available or recoverable in a timely manner.
The BCP is designed to meet the requirements of MiFID II Article 48 and the associated technical standards under Commission Delegated Regulation (EU) 2017/584 (RTS 7), as well as applicable FCA and AFM rules. It applies to all systems, personnel, and third-party providers that support the operation of the MTF.
Our plan is designed to aid in quick recovery and resumption of business operations after a significant business disruption, and respond by: communicating with our Subscribers, safeguarding our employees and property, conducting an overall impact assessment, protecting and/or restoring the integrity and availability of the Firm’s systems, protecting the Firm’s books and records, and allowing our Subscribers to transact business. In short, our BCP is designed to permit our Firm to resume operations as quickly as possible and minimize the likelihood of transactional issues, given the scope and severity of the significant business disruption.
Our BCP addresses: data backup and recovery; mission critical systems; financial and operational assessments; alternative communications with Subscribers, employees, and regulators; alternate physical location of employees; critical supplier, contractor, bank and counter-party impact; regulatory reporting; and assuring our Subscribers prompt access to their transactional information if we are unable to continue our business.
The Firm has identified its critical functions as:
- Trading Platform Operations;
- Data Centre and Hosting Management;
- Connectivity and Network Infrastructure;
- Market Data collection, normalisation, and distribution;
- Data Management & Protection;
- Risk Management (including real-time risk monitoring, pre-trade and post-trade risk controls, and stress testing);
- Regulatory Reporting; and, Surveillance and Monitoring.
These functions are supported by resilient infrastructure and are prioritised in any recovery scenario.
Varying Disruptions
The Firm operates a high-availability architecture with redundancy and real-time monitoring designed to support continuous operation under normal and stressed market conditions. The recovery approach is designed to restore trading functionality in a controlled and orderly manner, with priority given to market integrity and the preservation of order and execution data.
Trading safeguards, including pre-trade risk controls and volatility interruption mechanisms, remain operational during both normal and recovery conditions. These controls support the orderly management of market conditions and allow the Firm to suspend or restrict trading where necessary to maintain fair and orderly markets.
The Firm maintains defined recovery objectives for its critical systems and services. These objectives are designed to enable rapid restoration of trading functionality with minimal disruption and no material loss of critical data. Recovery processes prioritise the protection of Subscribers, system integrity, and the orderly resumption of trading activity.
In the event of a disruption, the Firm will communicate with Subscribers and regulators (where required) in a timely manner. Subscribers will be informed of material incidents affecting trading systems, including the nature of the disruption and expected recovery timing where available. Regulatory notifications will be made in accordance with applicable MiFID II, FCA, AFM and DORA requirements.
The Firm relies on third-party service providers for certain critical infrastructure and operational services, including hosting, connectivity, and data services. These providers are subject to continuity expectations and are incorporated into the Firm’s overall resilience and recovery framework.
The Firm maintains operational resilience to the loss of key personnel through documented procedures, role redundancy, and cross-training of staff responsible for critical functions. Decision-making authority is clearly defined and escalated to senior management where required.
The BCP is tested on a regular basis through disaster recovery exercises, scenario-based simulations, and operational failover testing. These tests are designed to confirm that systems, staff, and procedures can operate effectively under stress conditions and that recovery objectives can be achieved in practice.
Following any significant disruption or test, the Firm conducts a review to assess root cause, system performance, and opportunities for improvement. The BCP is updated where necessary to reflect operational changes, testing outcomes, or regulatory developments.
The BCP is reviewed at least annually and approved by senior management. It is updated more frequently where required due to material changes in systems, infrastructure, or regulatory expectations.