Cybersecurity is definitely (and finally) on the radar of executives and boardrooms of securities trading firms, and financial chief information security officers (CISOs) should make the most of their greater influence upon the top decision-makers, according to the first cybersecurity trends survey that the Financial Services Information Sharing and Analysis Center (FS-ISAC) conducted upon its… Read More >>
CFTC Charges FCM with Neglecting Cybersecurity
AMP Global Clearing LLC (AMP), a registered futures commission merchant (FCM) settled charges with the CFTC over allegations of inadequate cybersecurity protections that led to an unauthorized copying of 97,000 client files. The Chicago-based AMP has been registered as an FCM with the CFTC since 2010, officials say. The CFTC has issued an order and… Read More >>
Cybersecurity Comes to the FIX Protocol
The FIX Trading Community, the standards body behind the Financial Information eXchange electronic trading protocol, is taking on cybersecurity via the release of the FIX-over- the Transport Layer Security (TLS) (FIXS) standard and guidelines. The effort is to help users of the FIX Protocol meet security requirements “as it introduces a basic level of security… Read More >>
2018 Predictions: Hackers Will Hit Harder Than Last Year
(Editor’s Note: Cybersecurity concerns are high on almost every prognosticator’s list and several of them are predicting that things are only going to get worse for the securities industry.) “Unfortunately, we won’t be surprised to see another Equifax-like situation happen in 2018,” says Robert Roley, senior vice president, managing director and general manager for SS&C… Read More >>
2018 Predictions: Global Markets to Expand Despite Jolts
(Editor’s Note: Predicting what the financial markets, regulators and industry participants will do in 2018 is a challenge as there are so many variables that could undercut prognostications. Yet in a bid to offset chaos, FTF News has put together a round-up of opinions and initiatives from researchers, analysts and executives at the TABB Group,… Read More >>
SEC Reassures Investors About Its Cyber Protections
In a surprising display of transparency, the SEC Chairman Jay Clayton last week acknowledged that the regulator’s EDGAR database had been hacked. To recap, SEC officials learned last month that “an incident previously detected in 2016 may have provided the basis for illicit gain through trading,” according to officials. The popular EDGAR platform, whose acronym… Read More >>
SEC’s Clayton: EDGAR System Was Hacked in 2016
In a major policy statement about the threats that hackers pose, the SEC’s Chairman Jay Clayton acknowledged on Wednesday that there was “a 2016 intrusion of the Commission’s EDGAR test filing system,” that may have given perpetrators “the basis for illicit gain through trading.” SEC officials learned last month that “an incident previously detected in… Read More >>
Buy Side Finds New Love for Public Clouds, Big Data
Buy-side firms once reluctant to embrace cloud computing are apparently changing course as two-thirds of those responding to a recent survey intend to use the services of public cloud providers over the next five years. The survey and research from Boston-based Sapient Consulting also focuses on other emerging technologies that are disrupting how the buy… Read More >>
FINRA Taps Travelers to Fill Chairman’s Post
FINRA Picks William H. Heyman to Succeed Jack Brennan The self-regulatory organization for brokerages, the Financial Industry Regulatory Authority (FINRA), has a new chairman for its board of governors with the unanimous election of William H. Heyman, vice chairman and chief investment officer of The Travelers Companies, Inc. Heyman, who will take over as… Read More >>
Are You Ready for Cyber-Attacks via Keyboards?
(As the world reels from a new round of ransomware attacks, they might be missing cyber-attacks that are happening in plain sight via rogue hardware devices, says Yossi Appleboum, co-CEO of Sepio Systems, which describes itself as a pioneer in this new fight. Sepio officials say that “strategic cyber weapon technology” can be used to… Read More >>
