Bethesda Securities, LLC (“Bethesda Securities”, “we” or the “Company”), is a wholly owned self-clearing fixed income broker-dealer subsidiary of AGNC Investment Corp (“AGNC”). Bethesda Securities is a member of the Depository Trust Corporation and the Government Securities Division (“GSD”) and Mortgage Backed Division (“MBSD”) of the Fixed Income Clearing Corp. In addition to transacting across the GSD and MBSD, Bethesda Securities is active in bi-lateral and tri-party institutional financing as part of its daily activity in the Agency MBS and Treasury repo market.
Bethesda Securities is committed to safeguarding the interests of our clients and customers in the event of an emergency or significant business disruption (“SBD”). The Company has developed a Business Continuity Plan (“BCP”) in order to respond to events that significantly disrupt our business. Since the timing and impact of disasters and disruptions are unpredictable, we will have to be flexible in responding to actual events as they occur. With that in mind, we are providing you the following information regarding our BCP.
If after a significant business disruption you cannot contact us as you usually do, you should go to our website at www.bethesdasecurities.com or call (203) 429-0714 for further information.
We plan to quickly recover and resume business operations after a significant business disruption and respond by safeguarding our employees and property, making a financial and operational assessment, protecting the firm’s books and records, and allowing our customers to transact business. In short, our business continuity plan is designed to permit our firm to resume operations as quickly as possible, given the scope and severity of the significant business disruption. Our business continuity plan 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 prompt access to their funds and securities if we are unable to continue our business.
SBDs can vary in their scope, such as only our firm, a single building housing our firm, the business district where our firm is located, the city where we are located, or the whole region. Within each of these areas, the severity of the disruption can also vary from minimal to severe. In a disruption to only our firm or a building housing our firm, we will transfer our operations to a local site when needed and expect to recover and resume business. In a disruption affecting our business district, city, or region, we will transfer our operations to a site outside of the affected area, and recover and resume business. In either situation, we plan to continue our business operations and notify you through our web site at www.bethesdasecurities.com.
Bethesda Securities’ BCP is designed to be prepared for SBDs and to resume our business operations as quickly as possible if an event did occur. The information contained within is a summary of that plan. Because of the confidential nature of much of the plan, it is not possible to distribute the entire plan to clients, customers or other external entities. Recovery-time objectives provide concrete goals to plan for and test against. They are not, however, hard and fast deadlines that must be met in every emergency situation, and various external factors surrounding a disruption, such as time of day, scope of disruption, and status of critical infrastructure—particularly telecommunications—can affect actual recovery times.
Any questions regarding the Company’s Business Continuity Plans should be addressed to:
Bethesda Securities, LLC
55 Greens Farms Road
Westport, CT, 06897