Business Continuity Plan
Open Ocean Trading has developed a Business Continuity Plan regarding its response to events that significantly disrupt its business. Since the timing and impact of disasters and disruptions is unpredictable, we must remain 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, go to our website at www.openoceantrading.com for further information on the state of our operations or other important information.Our Business Continuity Plan
We plan to recover as quickly as possible and resume business operations after a significant business disruption and respond by safeguarding our employees and property, making a financial and operational assessment, protecting the firm's books and records, and allowing our customers to transact business. In short, our business continuity plan is designed to permit our Firm to resume operations as quickly as possible, given the scope and severity of the significant business disruption.
Our business continuity plan addresses: data back-up and recovery; mission critical systems; financial and operational assessments; alternative communications with customers and employees; alternate physical location of employees; critical supplier, contractor, bank and counterparty impact; and assuring our customers prompt access to their funds and securities if we are unable to continue our business. Every emergency situation poses unique problems based on external factors, such as time of day and the severity of the disruption. Your transactions and requests for funds could be delayed during this period. This recovery objective may be negatively affected by the unavailability of external resources and circumstances beyond our control.
The scope of significant business disruptions can vary in their magnitude — they can affect only our firm, a single building housing our firm, the business district where our firm is located, the city where we are located, or the entire region. Within each of these areas, the severity of the disruption can also vary from minimal to severe. In a disruption to only our firm or a building housing our firm, we will transfer our operations to a local site when needed and expect to recover and resume business within 24 hours. In a disruption affecting our business district, city, or region, we will transfer our operations to a site outside of the affected area, and recover and resume business within 48 hours. In any of these situations, we plan to continue in business and notify you through our website at www.openoceantrading.com about how to contact us. If the significant business disruption is so severe that it prevents us from remaining in business, we will assure our customers prompt access to their funds if applicable.