Lesson 4.6 - Operational Incident Severity¶
Not Every Problem Is a P1¶
A client complains about one delayed order. Another Dealer reports “system down” without verification. Meanwhile, a genuine quote source-wide disconnect affects multiple symbols.
The Desk needs a common language for impact and urgency.
| Severity | Example | Typical Response |
|---|---|---|
| P4 | Isolated minor issue, no broad impact | Record and monitor |
| P3 | Limited symbol/client impact | Investigate and notify Shift Leader / follow-up |
| P2 | Material impact to a product/group/system function | Cross-team escalation |
| P1 | Widespread trading, connectivity or risk impact | Immediate incident management |
Every initial incident update should include:
- Time.
- What is observed.
- Affected systems/symbols/client scope.
- Verified facts.
- Current impact.
- Action already taken.
- Next update time.
quote source-Wide Disconnect¶
Observed: - Multiple symbols lose Quote Source B participation. - Bridge logs show session disconnect. - Routing shifts to backup quote source route. - Spreads widen on affected symbols. - Client impact remains limited, but potential risk is material.
Likely classification: P2 initially, with escalation if backup routing cannot maintain execution quality.
❌ Calling a P1 before verification. ❌ Understating a broad impact because one screen looks normal. ❌ Reporting opinions as facts. ❌ Failing to specify impact and next action. ❌ Closing incident without monitoring recovery.
Severity classification helps Dealing Room respond proportionately. Good incident response begins with verified facts, scope and disciplined communication.
End of Chapter 4 Module A
Completion Criteria¶
- Can explain the key risk or operational objective of this lesson
- Can identify the required systems, data, or evidence to review
- Can describe the correct escalation or handling process
- Has completed Shift Leader / follow-up review or practical confirmation