On a Saturday morning in late October, when trading floors were dark and markets technically “closed,” Canada’s investment industry was running one of its most consequential exercises of the year. Not a crisis, but a simulation one. Not a failure, but a test of whether failure could be contained.
Canada stress-tests its markets quietly, and passes
A newly released CIRO report has brought fresh attention to the results of its October 2025 industrywide continuity exercises, highlighting their relevance to current regulatory priorities.