The Cross-Market Operational Resilience Group completed its biennial simulation exercise, SIMEX26, on October 8, 2026, focusing on a global cloud services disruption. Chaired by the Bank of England and UK Finance, the crisis management exercise involved 38 large financial institutions.
Exercise Details
The Cross-Market Operational Resilience Group (CMORG) completed its biennial simulation exercise, known as SIMEX26, on 8 October 2026. The exercise focused on a global cloud services disruption scenario.
The exercise was opened by the Economic Secretary to the Treasury and hosted by the London Stock Exchange Group. It involved 38 of the largest and most systemically important banks and market infrastructure operators working alongside financial authorities.
Official Responses
Katharine Braddick, Deputy Governor of Prudential Regulation at the Bank of England and CEO of the Prudential Regulation Authority, said that the exercise was an important demonstration of the UK financial sector's commitment to operational resilience.
David Postings, Chief Executive of UK Finance, stated that SIMEX 2026 enabled the sector to collectively strengthen preparedness. Economic Secretary to the Treasury Lucy Rigby noted that participants worked to enhance defences against disruption.
Key facts and where they come from
- CMORG completed its biennial simulation exercise, SIMEX26, on 8 October 2026.
completed its biennial simulation exercise, known as SIMEX26, focused this year on a global cloud services disruption.
- The exercise involved 38 of the largest and most systemically important banks and market infrastructure operators.
the 38 largest and most systemically important banks and market infrastructure operators involved.
- The group is chaired by the Bank of England and UK Finance.
chaired by the Bank of England (the Bank) and UK Finance