CMORG and the Economic Secretary to the Treasury open London's market for SIMEX26

London Stock Exchange Group welcomed the Cross-Market Operational Resilience Group (CMORG) and the Economic Secretary to the Treasury, The Rt Hon Lucy Rigby KC MP, to open the market as part of SIMEX26, the UK financial sector’s biennial simulation exercise.

The team celebrating on the balcony at LSEG during the welcome ceremony.

Hosted by LSEG, SIMEX26 brought together the financial authorities and 38 of the UK’s largest and most systemically important banks and market infrastructure operators to rehearse a coordinated response to a global disruption to cloud-based services. The market opening marked the launch of the exercise and represented the sector’s collective commitment to maintaining critical services and safeguarding financial stability during severe operational disruption. SIMEX26 and CMORG’s wider programme to develop financial sector capabilities supports the aims of both financial authorities and firms to ensure collective response tools are in place to respond to disruptive events. This improves the operational resilience of the financial sector and promotes a stable financial system that the public can depend on.

“This was an important demonstration of the UK financial sector’s commitment to operational resilience. The level of collaboration reflects the priority firms place on maintaining critical services in the face of disruption.”

Katharine Braddick
Deputy Governor of Prudential Regulation at the Bank of England and Chief Executive of the Prudential Regulation Authority

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