Options Meets Highest Security Standards Of SSAE 18, SOC 1 & SOC 2
Managed Services Maintains Record of Excellence For Industry Accreditations
New York, London ― January 4, 2018 ― Options, the leading provider of cloud-enabled managed services to the global capital markets, has announced full compliance with the new security requirements of the Statement on Standards for Attestation Engagements (SSAE) 18 and adherence to the latest standards for Service Organization Controls (SOC) 1 Type II and SOC 2 Type II. The accreditations are a testament to the rigorous security controls and business processes inherent across the Options architecture and managed services solution.
The SSAE 18 examination, which supersedes previous SSAE assessments for SOC 1, offers a new benchmark around the internal operating practices of service organizations. The US standard introduces additional controls and report enhancements, in particular around risk management, to align with global security compliance standards. The new SSAE 18 evaluation certifies that Options has achieved the higher standards required of SOC 1 Type II protocols.
Options additionally recertified its SOC 2 Type II compliance, ensuring the firm’s 2018 accreditations are assessed on the most recent criteria for both SOC industry standards. Both voluntary examinations were passed without exception, providing clients with a higher level of assurance regarding security, availability, processing integrity, confidentiality, and privacy.
Options has maintained a record of compliance excellence for industry standards and best practices since its inception, being one of the first cloud infrastructure providers in the industry to achieve the inaugural SOC 2 Type II certification in 2011.
Options VP Cybersecurity, John Gracey commented, “Our participation in these annual audits serve as a guarantee to our clients that the Options Managed Platform continues to meet the stringent information security and privacy controls required of the industry. Our 100% pass rate, year on year, validates the diligence of our cybersecurity team and the effectiveness of the continued security technology investment across our platform to ensure absolute system integrity and protection for our clients and their data.”
The comprehensive examination period was conducted by independent auditors over a number of months and concluded with an onsite audit to authenticate the effectiveness of policies.
About Options (www.options-it.com):
Options is the leading provider of cloud-enabled managed services to the global financial services sector. Founded in 1993, the company began life as a hedge fund technology services provider. More than a decade ago, the company made a strategic decision to become the first provider to offer cloud services to the financial sector. Today over 200 firms globally leverage the Options platform, including the leading global investment banks, hedge funds, funds of funds, proprietary trading firms, market makers, broker/dealers, private equity houses and exchanges. Options was named among the UK’s leading growth companies in the 2017 Sunday Times HSBC International Track 200 league table. In 2017, the firm received a growth investment from private equity firm Bregal Sagemount.