Sova Capital’s Business Continuity Statement
23 Mar 2020
Sova Capital knows how important the services are that we provide to you and to your business. At the same time, it is vital for us to maintain a safe working environment for our staff.
We would therefore like to take this opportunity to update you on what steps we have taken in response to the developing Coronavirus (COVID-19) situation and to ensure that we remain fully operational:
- We have two separate operational locations with appropriate infrastructure and back-up to minimise the potential operational impact of one of the sites becoming unavailable – in the UK and Russia. We believe this helps provide the necessary resilience regardless of what the volumes traded may be in different markets;
- We have updated and tested our business continuity and disaster recovery plans to ensure that it will be as close to ‘Business As Usual’ in the event of a lock-down or other emergency;
- We are in permanent contact with our exchanges, banks, brokers and business partners regarding their business continuity efforts and disaster recovery programs;
- Over the past 2 weeks, we have reviewed and tested our employees’ ability to work from home, across all departments and functions; currently more than 90% of our employees are working remotely from home and others are split into dedicated groups working in shifts. The result is that we are not currently experiencing any adverse operational impacts arising from the COVID-19 outbreak;
- We have stopped all business travel; and any employee returning from holiday from a high-risk country will not be permitted to return to the office for a period of 14 days;
- Senior management meets regularly in order to be able to make any necessary adjustments to our resourcing plans and business model;
- We are following the guidance of local government (both UK and Russia) and the World Health Organization (WHO) policies.
You may rest assured that we will continue to monitor the coronavirus situation very closely and will take full note of all government and competent public health authority advice and guidance.
Finally, owing to our robust remote-access infrastructure, in the event of a full-blown pandemic, all our remaining employees are able to rapidly switch to WTH protocols.