The Chicago Mercantile Exchange Inc. (CME) has joined the Financial Services Sector Coordinating Council for Critical Infrastructure Protection and Homeland Security (FSSCC).
The FSSCC, a network of financial trade associations and private firms representing thousands of financial services organizations, works closely with the U.S. Department of the Treasury and financial regulators to coordinate the private sector’s preparation for events that could disrupt the normal business of the financial services, such as terrorism, natural disasters or cyber attacks.
CME, the largest futures exchange in the United States and the largest futures clearing house in the world for the trading of futures and options on futures contracts, joins 26 other financial services industry associations and trade groups as members of the FSSCC.
“We are pleased to welcome Chicago Mercantile Exchange to the FSSCC,” said Donald F. Donahue, Sector Coordinator and chair of the FSSCC. “We value the participation of CME particularly for the expertise they will bring to our discussions of technology, and their best practices knowledge about business continuity planning.”
“The partnership and coordination within the FSSCC is important for trade groups and financial services organizations, so we can collectively address issues of safety and soundness of financial services,” said Karl Weinberg, Associate Director, Disaster Recovery, CME. “Together, we are able to reassure investors that we have the strength, certainty and resiliency to protect the U.S financial markets. We’re very happy that CME will be an active participant in the FSSCC.”