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Wall St. disaster center completed.

Completion of a 42,000 square-foot disaster recovery trading facility at Brooklyn's MetroTech Center Means financial traders can be back in operation within 24 hours if their primary trading rooms are rendered inoperable by fire, flood and other disasters.

The 340-seat facility, built and managed by Chubb Contingency Trading Facility (Chubb CTF), a division of Chubb Services Corporation (CSC), is the first of its kind in the world. It fully replicates a trading-room environment, including private line telephone service to exchange floors and traders' customers. Other features include the provision of market data feeds, links to back office and room for support personnel.

Robert D. Felch, president of CSC, said the facility is the result of a survey of member firms by the Wall Street Telecommunications Association's Disaster Recovery Hot Site Consortium. "This is a classic example of business and technology, responding to a need," he said. "The trading facility was |designed' by its intended users. Its proximity to Wall Street and Midtown financial centers recognizes the importance of traders being near their customers."

Felch said that contracts and letters of intent received by Chubb CTF represent a commitment for 75 percent of the MetroTech location's capacity, and that ChubbCTF has identified candidate sites for other facilities near LaGuardia Airport in Queens and in Jersey City. "The three sites will be fully interconnected," he said. "It means that a subscribing firm could relocate its key traders in any one or all of the facilities and resume business within 24 hours of an outage." Other trading facilities are being planned for Chicago. San Francisco, London, Frankfrut and Hong Kong.

Trading desks in the secured facility feature plasma touch screens, a digital telephone switching system, and access to three market data services with others available on request. Traders enter their ID code at any of the 340 trading desks to call up their confidential customer profiles. A unique low area network (LAN) can accommodate virtually any combination of hardware and software employed by subscribing member firms.
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Title Annotation:Chubb Services Corp. constructs disaster recovery trading facility at MetroTech Center, Brooklyn, New York, New York
Publication:Real Estate Weekly
Date:Dec 1, 1993
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