Business Continuity Plan
MKM Partners LLC maintains a Business Continuity Plan (BCP) consistent with regulatory requirements. We are providing this disclosure statement to our clients summarizing the BCP. The BCP is reviewed annually and may be updated at any time.
MKM Partners LLC is an introducing firm and does not perform clearing functions for itself or others. We do not hold customer’s securities or funds. Broadcort, a division of Merrill Lynch, Pierce, Fenner, & Smith Incorporated., clears and settles all MKM Partners LLC transactions.
Our clearing firm, Broadcort, maintains a business continuity plan and the capacity to execute that plan (http://gmi.ml.com/broadcort/index.asp). Our clearing firm represents that it will advise us of any material changes to its plan that might affect our ability to maintain our business and presented us with an executive summary of its plan. In the event our clearing firm executes its plan, it represents that it will notify us of such execution. Our clearing firm represents that it backs up our records at a remote site and that it operates a back-up operating facility in a geographically separate area with the capability to conduct the same volume of business as its primary site. Our clearing firm has also confirmed the effectiveness of its back-up arrangements to recover from a wide scale disruption by testing, and it has confirmed that it tests its back-up arrangements.
Our BCP is designed to be activated in the event of a Significant Business Disruption (SBD). The BCP attempts to continue operations if an event were to occur that would impact the firm’s business locations or systems. We anticipate a variety of significant business disruptions and the actions MKM Partners LLC would take in the event of a building, town-wide or regional incident. The BCP provides that after performing an initial assessment of the event, the CEO or CFO would execute our BCP.
Under most scenarios, we expect to continue conducting business and resume operations with minimal service impact. However, under certain scenarios, the time it takes us to recover and resume operations maybe significantly increased depending on the extent of the disruption to our systems and physical structures.
Clients may be kept up to date on the potential business disruption scenarios by accessing www.mkmpartners.com . They may also call our trading department at telephone number (203) 861-9060 to get information about accessing their securities and funds at our clearing firm.