Does the New York Stock Exchange Building have a Business Continuity Plan for dealing with a hurricane hitting New York City?

Question

I would like to know if the New York Stock Exchange Building has a rock solid business continuity and disaster recovery plan to deal with the event of a hurricane directly hitting New York City and doing structural damage to the NYSE building.

I think knowing that the NYSE is already prepared to deal with such an event would be very beneficial because this knowledge would likely help investors in making a decision in whether they should stay in or cash out their investments a few days before the hurricane makes landfall.

I am very curious about this because there is a strong possibility of a hurricane hitting the New York City area in near future. New England Is Facing Its 1st Direct Hurricane Landfall In 30 Years https://www.npr.org/2021/08/20/1029626711/new-england-is-under-a-hurricane-watch-for-the-first-time-in-years

Does the New York Stock Exchange Building have a Business Continuity Plan for dealing with a hurricane hitting New York City?

Answer 1

Here's one article:

US DOLLAR REPORT, SEPTEMBER 11, 2020

Most major stock exchange operators, including the NYSE, operate their trading platforms from data centers in New Jersey.

Exchange operators typically have backup centers in other locations to ensure continuity, in case they encounter technical difficulties in their primary locations.

And another article:

L.A. TIMES ARCHIVES, DEC. 7, 2001 12 AM PT, FROM BLOOMBERG NEWS

The New York Stock Exchange said Thursday that it has set up a contingency site at an undisclosed location within New York where it could reestablish operations within 24 hours of any disruption that prevents it from using 11 Wall Street, the exchange’s home since 1903.

I would be more concerned that the hurricane knocks out the electrical grid (electricity and cell phones) and you have no way to access the exchange. I've experienced this several times in the southeast.

Answer 2

All the exchanges, major brokerages, etc developed (or refined) their DR plans after 9/11. The real question is whether they've let the plans "rot" over time through complacency.

Anecdote: I remotely managed a database on a server in one of the towers, and the database was up and running again within 5 days on new hardware provided by Sungard (a DR specialist "insurance" company) using remotely stored backup tapes. (We "mirrored" the database to a data center in NJ, specifically for DR, but They decided not to use it; I've always wondered why.) My two-onsite coworkers lived because one was sick, and the other running late.