A Bank of England-backed seminar will examine how the $2 trillion a day foreign exchange market would cope with a sustained outage of global currency payments system - CLS - caused by terror attacks or other disasters.
Payments systems are the plumbing which keeps money flowing around the globe. Blockages can have wide-reaching implications for financial market stability, a concern highlighted by the September 11, 2001 attacks in the United States.
The September 26 seminar is hosted by the Joint Standing Committee (JSC) -- a forum for forex industry experts, regulators and central banks.
"This session is in addition to the annual exercise where the industry simulates different types of stress or catastrophes," said Jonathan Butterfield, vice-president of marketing and communication for CLS.
"Ever since 9/11 it is obvious in the major financial centres that individual institutional resilience is one thing but that is not the point unless you have infrastructures and other participants able to continue," Mr Butterfield added.
"You could be the most resilient entity but nothing else is going to work. Everybody clearly understands this is a group activity, not an individual activity, practicing for a disaster."
CLS Bank was launched in 2002 to eliminate the risk that one counterparty to a transaction does not receive the currency it is owed.
CLS, one of the six critical infrastructures specified by the Federal Reserve, settled a record $5.35 trillion in currency transactions on June 21. It counts both sides of a transaction.
"The FX industry is quite strong. It is well aware of the major disruptive forces in the industry, and has operated well through all of them," said Phil Weisberg, chief executive officer of currency trading platform FXall.
"There are always going to be terror risks. The best plan is to have well thought-through contingency plans, and to have good people in all these companies to think about these type of contingencies," said Mr Weisberg, who is a member of the JSC.
In November the BoE, and Britain's Treasury and Financial Services Authority held a disaster exercise involving 50 financial services firms including banks, insurers and fund managers.
On July 7 2005 when four suicide bombers made a coordinated attack on London's transport system, the three institutions implemented one plan, kicking off a secret internet chatroom to help keep financial markets open.
That day the JSC members had a conference call, followed by a joint call with their New York counterpart.
"It was suggested that members might consider upgraded mobile phones with their business continuity staff. Blackberries had apparently worked well, as had instant messaging software," said the JSC minutes of a July meeting held after the attacks.
CLS had a technical problem in March 2003 delayed settlement of the yen and Australian dollar, its first serious problem. Around 20,000 settlement instructions had to be resubmitted the following day.
"It caused a lot of chaos," a head of FX trading at a.bank said.
"A lot of big banks will struggle to move back to a non-CLS environment."
Mr Butterfield added CLS operates multiple data centres, triple network connections and runs hardware and software operations from either sides of the Atlantic.
"For us to go down completely requires quite significant failures at multiple levels simultaneously. The exercise represents a good test for the industry."