Business Continuity Plan
Westport Capital Markets has developed a Business Continuity Plan on 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 203-222-8915 or chris@westportcapitalmarkets.com,
you should call our alternative number
203-246-8077 or go to our web site at
www. westportcapitalmarkets.com. If you cannot access us through those means,
you should contact our clearing firm, Bear, Stearns Securities Corp. at
347-643-4927
or at www.bearstearns.com for liquidating orders, check and wire requests and
securities transfers.
Our Business Continuity Plan –We plan to quickly recover
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; all mission
critical systems; financial and operational assessments; alternative communications
with customers, employees, and regulators; alternate physical location of employees;
critical supplier, contractor, bank and counter-party impact; regulatory reporting;
and assuring our customers prompt access to their funds and securities if we
are unable to continue our business.
Our clearing firm, Bear, Stearns Securities Corp., backs up their important
records in a geographically separate area. While every emergency situation
poses unique problems based on external factors, such as time of day and the
severity of the disruption, we have been advised by our clearing firm that
its objective is to restore its own operations and be able to complete existing
transactions and accept new transactions and payments within four to twelve
hours. Your orders and requests for funds and securities could be delayed during
this period.
Varying Disruptions –Significant business disruptions
can vary in their scope, such as 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 whole 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
two days. 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 five days. In either situation, we
plan to continue in business, transfer operations to our clearing firm if necessary,
and notify you through our web site www.westportcapitalmarkets.com or
our customer emergency number, 203-246-8077 how to contact us. If the
significant business disruption is so severe that it prevents us from remaining
in business, we will assure our customer’s prompt access to their funds
and securities.
For more information – If you have questions about
our business continuity planning, you can contact us at 203-222-8915 or chris@westportcapitalmarkets.com