Options Successfully Completes Annual SOC 2 and SSAE 16 Audit
New York – April 30, 2015 – Options, the leading managed service and IT infrastructure provider to the global capital markets industry, today announced the successful completion of the annual Service Organization Control (SOC) 2 Type II and Statement on Standards for Attestation Engagements (SSAE) 16 Type II audit, and issuance of the SOC 1 Type II and SOC 2 Type II reports. The audit, which was carried out by a third party accredited accounting firm, measures and validates the security, design and operating effectiveness of a service provider’s infrastructure, controls and associated practices.
Developed in 2011 by the American Institute of Certified Public Accountants (AICPA), the SOC reporting standard is the leading attestation standard for technology service organizations. They go beyond the scope of the traditional SAS 70 examinations and are the new industry standard for private cloud and infrastructure-as-a-service firms that provide managed hosting and data storage services to the financial industry.
In 2012, Options became one of the first cloud infrastructure providers to successfully complete the SOC and SSAE 16 audit. In particular, the SOC 2 report focuses on a firm’s non-financial reporting controls as they relate to security, availability, processing integrity, confidentiality, and privacy. In successfully completing this audit, Options has upheld a 100% track record since the introduction of the standards, further underlining the firm’s continued commitment to maintaining the very highest level of internal controls, compliance and security.
Options CTO, John Bryant, commented, “We are delighted that, once again, no exception has been noted in Options’ security and compliance practices. The results of these assessments further validate our standing as an industry leader in delivering an offering that combines both innovative financial technology and advanced security practices.
“Our focus has always been to provide peace of my mind to our clients, from both a technology and security standpoint, and these annual assessments, which include random on-site testing, ensure Options keep current with new and emerging security threats and vulnerabilities. This validation, now a key industry standard, has never been more important, particularly against the backdrop of the wider regulatory environment and the ever increasing number and complexity of cyber threats.”
About Options (www.options-it.com):
Options is the leading managed service and IT infrastructure products provider 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 150 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 harnesses their platform to deliver three managed service solutions:
Essential business technology from email and office applications to phones and tablets
Hosting and management of the applications that run your business, front office to back
Low latency trading, FIX connectivity, market data and computing infrastructure
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