Bob Guilbert Bailey McCann, Opalesque New York:
Global hedge fund technology provider, Eze Castle Integration, has released a series of materials advising funds to take a more proactive approach to disaster recovery and business continuity plans. The firm created the Disaster Preparedness Knowledge Center in order to help hedge funds prepare for the upcoming hurricane and winter weather seasons, after extreme weather incidents earlier this year caused some funds to be out of business for several days until power was restored.
Disaster recovery plans are typically the responsibility of IT shops, as they primarily involve creating data backups and system redundancies in order to ensure that no information is lost in the event of some type of outage or disaster event. Business continuity plans differ in that they generally take a more holistic view of the business overall and include planning for issues like where to go in the event of a fire.
"When people hear the word disaster, they tend to think of the worst possible things, extreme weather, flooding, etc. But realistically, it can be something smaller like a significant comms room outage or a pipe bursting that can have a disastrous effect despite being relatively small compared to other types of disaster that could happen," explains Bob Guilbert, managing director at Eze Castle Integration, in an interview with Opalesque.
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