Société Générale has offloaded “shadow” trading floors after deciding that investment bankers can work from home if its main facilities are out of action.
The French bank opted to get rid of backup sites in locations including France and the UK that can be used during emergencies after overhauling its crisis contingency plans. The revised guidelines allow traders to work remotely for brief periods if its main sites cannot be used, people familiar with the matter told the FT.
For years, big investment banks have maintained so-called shadow trading floors that mirror core facilities so operations can continue in the event of a major disruption.
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