Vela’s Statement on Coronavirus - March 6, 2020

In response to continued developments regarding the Coronavirus outbreak, we would like to provide you with an important update on our staff policy and provide insight into the approach we are taking at Vela to deal with some of 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:

• We have introduced a mandatory 14-day working from home policy for all those returning from either business or leisure travel (since 19 February) from the areas listed below.
  • Mainland China
  • Northern Italy (areas north of but not including Pisa, Florence and Rimini)
  • South Korea
  • Iran
  • Cambodia
  • Hong Kong
  • Japan
  • Laos
  • Macau
  • Malaysia
  • Myanmar
  • Singapore
  • Taiwan
  • Thailand
  • Vietnam

These areas will be updated periodically as per the advice from the relevant authorities.

• UK: https://www.gov.uk/
• US: https://www.cdc.gov/
• PH: https://www.doh.gov.ph/

Please note that a 14-day mandatory working from home policy applies to those with household members who have also returned from these locations.

• We have provided all employees with advice on how they can help prevent the spread of infection to help protect themselves and others with hand washing and hygiene advice and have increased provisions such as hand sanitiser and tissues in all Vela offices.
• We have completed a full infrastructure review to ensure that all Vela staff can work from home if necessary, to ensure that as a business we would be able to operate as normal should certain staff or certain office locations be requested to work from home.
• This week we are running Business Continuity WFH testing across all Vela offices in New York, Chicago, London, Belfast and Manila.

 As a business that supports the capital markets community, we are fully enabled for remote working and have had this option in place for employees for many years. 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 continue to operate at optimum levels. We are constantly reviewing data rates and capacity across Vela Infrastructure and environments to ensure their continued ability to handle the unprecedented increased market data rates.

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.