Vela’s Statement on Coronavirus - April 6, 2020

Posted 06th April 2020

In response to the ongoing global coronavirus pandemic, we are providing regular updates on the steps Vela has taken to ensure the safety of all of our staff and customers, which is our number one priority. We are also sharing more information on the process and procedures we have implemented to ensure the continuous operation of our business without any interruption or risk to the critical functions that our clients rely on.

Since early March, in the interest of protecting all Vela employees and customers and ensuring the continued orderly functioning of our business, we have implemented the following precautionary steps:

  • We have introduced a mandatory work from home policy for all employees and prohibited all employee and visitor access to Vela offices until further notice.
  • We have introduced a ban on all business travel until further notice.
  • We have provided all employees with information on best practices whilst working from home and run an internal cybersecurity awareness campaign to counter any increase in phishing or fraudulent emails during this time.
  • We have introduced a global, enhanced change control policy that requires executive-level approval for any production change to limit these to only business critical changes.
  • We continue to emphasize the importance of all employees following government advice on social distancing and isolation as well as general advice on how they can help prevent the spread of infection

As a business that supports the capital markets community, we are fully enabled for remote working, something which has been offered to employees for many years and regularly tested at scale. Earlier in March we completed a full infrastructure review and conducted a Business Continuity Planning (BCP)/Work from Home test across all Vela offices in New York, Chicago, London, Belfast and Manila ahead of mandating that all employees work from home for the foreseeable future.

We have set up additional check-ins across our virtual teams to ensure increased levels of engagement and communication during this sustained period of remote working, whilst also providing guidance on best practices when working from home to maintain high levels of interaction and collaboration.

Global markets continue to operate at above average volumes driven by increased volatility, which in turn is driving higher trading and market data rates. We would like to assure all clients that Vela’s platforms continue to operate at optimum levels and we are constantly monitoring data rates and capacity across our infrastructure to ensure we continue to maintain sufficient headroom against observed and forecast data peaks.

Vela’s Executive Team continues to closely monitor the situation and update policies as required. We will continue to publish regular updates, where necessary, and if you have any questions please do not hesitate to contact your Account Manager.

Related news:
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View statement issued March 6, 2020

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