DeMatteo Monness LLC’s Business Continuity Planning

DeMatteo Monness LLC (“DM”) maintains a Business Continuity Plan (“BCP”) on how DM will respond to events that significantly disrupt DM’s business.  Since the timing and impact of disasters and disruptions is unpredictable, DM will have to be flexible in responding to actual events as they occur.  With that in mind, DM is providing you with the following information on DM’s BCP.

 

Contacting DM.  If after a significant business disruption you cannot contact us as you normally do at (212) 833-9900, you should call our alternative number (914) 696-6300.  If you cannot access us through either of those means, you should contact our clearing firm, Goldman Sachs Execution & Clearing, L.P., at (212) 357-2266 for instructions on how our clearing firm may assist you with services that we might not be able to provide to you in the case of a significant business disruption, such as providing you with prompt access to funds and securities, entering orders and processing other trade-related, cash, and security transfer transactions.

 

DM’s Business Continuity Plan. DM’s plan is to quickly recover and resume business operations after a significant business disruption and to respond to the significant business disruption by safeguarding DM’s employees and property, conducting a financial and operational assessment, protecting the Firm’s books and records, and allowing our customers to transact business.  In short, DM’s BCP is designed to permit us to resume operations as quickly as possible, in light of the scope and severity of the significant business disruption.

 

DM’s BCP addresses data backup and recovery; all mission critical systems; financial and operational assessments; alternative communications with customers, employees, and regulators; alternate physical location of employees; critical supplier, contractor, bank and counter-party impact; regulatory reporting; and assuring our customers that they will have prompt access to their funds and securities if DM is unable to continue its business.

 

Our clearing firm, Goldman Sachs Execution & Clearing, L.P., backs up DM’s customer records in a geographically separate area.  While every emergency situation poses unique problems based on external factors, such as the time of day when the situation occurs and the severity of the disruption, DM’s clearing firm has advised us that in the event of a significant business disruption that affects DM’s business, our clearing firm’s objective is to be able to complete existing transactions and accept new transactions and payments within a reasonable amount of time.  Customer orders and requests for funds and securities could be delayed during this period.

 

Varying Disruptions.  Significant business disruptions can vary in their scope.  For example, a significant business disruption could affect only DM, the building where DM’s office is located, the business district where DM is located, the city where DM is located, or the entire region within which DM is located.  The severity of the disruption within each of these areas can also vary from minimal to severe.  In the event of a disruption that affects only DM or the building where DM’s office is located, DM will transfer its operations to a local site when needed and DM will expect to recover from the disruption and resume business within a few hours.  If a disruption affects the business district where DM is located, the city where DM is located, or the entire region within which DM is located, DM will seek to transfer its operations to a site outside of the affected area, and DM will expect to recover from the disruption and resume business as quickly as possible.  In either situation, DM plans to continue in business, to transfer its operations to DM’s clearing firm Goldman Sachs Execution & Clearing, L.P. if necessary, and to notify you through our customer emergency numbers of (212) 833-9900 or (914) 696-6300, regarding how to contact us.  If the significant business disruption is so severe that it prevents us from remaining in business, we will assure our customers of their prompt access to their funds and securities.

 

For more information.  DM’s BCP is available via first class mail upon request.  If you have questions about our business continuity planning, you can call us at (212) 988-9900 or e-mail us at info@dmllc.com.

 

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