NASD OTC Exchange Begins Remote Operations

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By Adedapo Adesanya

Following the successful execution of its Business Continuity Plan (BCP), NASD OTC Securities Exchange has told all members of staff, including its senior-level management, to work from the comfort of their homes.

In a statement released over the weekend, the exchange noted that considering the impact of the COVID-19 pandemic, which has forced a large number of organisations globally to shut down their operations, it had taken the necessary measures that will allow market activities be done remotely.

The statement reads, “We were pleased to mark a significant milestone today at NASD OTC SECURITIES EXCHANGE as all members of staff inclusive of senior-level management successfully executed our BCP by working from home!

“This was a timely exercise considering the impact of the COVID-19 pandemic which has forced a large number of organisations globally to shut down their operations.

“Our business continuity and disaster recovery plan are structured to absorb the effects of uncontrollable circumstances – such as situations which may ultimately require employees to work from home – that may attempt to hamper our ability to maintain our excellent service delivery to our valued stakeholders.

“Consequently, we have invested over time in ensuring that our I.T and Market Operations teams possess the requisite skills and technology to remotely launch and monitor the OTC trading platform, ensure a seamless trading experience, and provide the necessary support to our esteemed market participants if such a situation ever arose.”

Following the completion of the BCP on Friday, March 2020, the exchange reassured its stakeholders that its market activities – opening, trading, and closing, will continue unhindered, noting that this will calm any fear regarding its operations considering the circumstances brought about by the pandemic.

The exchange also sympathised with those who have lost loved ones to the pandemic and urged its stakeholders to take adequate precautions that aligns with global health practices.

“We also would like to seize this opportunity to offer our heartfelt condolences to the families that may have lost their loved ones as a result of this outbreak and we commend the rigorous efforts of all health care personnel and volunteers in the fight against this pandemic.

“We are hopeful that the COVID-19 pandemic shall be brought to a permanent halt as soon as possible.

“In the meantime, we encourage all our stakeholders to remain calm and stay safe by ensuring adequate precautions are taken in line with the basic protective measures recommended by the World Health Organisation (WHO),” it said.

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