In response to continued developments regarding the Coronavirus outbreak, we would like to share important information on our staff policy and provide insight into the approach we are taking at Vela to prepare and reduce the potential issues and risks this presents. The specific steps outlined below are based on a response framework which is detailed in our pandemic planning policy.
In the interest of protecting all Vela employees and ensuring the continued orderly functioning of our business, we have implemented the following precautionary steps:
As a business that supports the capital markets community, we are fully enabled for remote working, something which has been offered to employees for employees for many years and regularly tested at scale. However, we are taking all possible steps to ensure that all employees regardless of office location or team are able to perform their day to day role from home for an extended period should this be required.
It should be noted that the precautionary steps being taken by Vela exceed those of the local authorities in US, UK and Philippines. We have taken the decision to do so in order to protect the health and safety of our employees while also ensuring through our BCP testing that we can continue to operate our business as normal.
We would also like to assure all clients that given the increased market volatility observed in the markets over recent days and weeks, our teams are working tirelessly to ensure that Vela software, products and services are operating at optimum levels. We are constantly reviewing data rates and capacity across our Infrastructure and environments to ensure their continued ability to handle the unprecedented increase in market data rates driven by volatility within the markets. While markets remain volatile, Vela has introduced an enhanced change control policy, which requires additional levels of approval and heightened awareness for any production change to limit the number of in-flight, non-critical changes.
Vela’s Executive Team is constantly monitoring the situation and adapting our response as necessary and we will provide further updates as required. If you have any questions, please do not hesitate to contact your Account Manager.
View statement issued March 6, 2020