dxFeed Successfully Confirms SOC 2 Audit Status with Additional Trust Services Criteria - Availability and Confidentiality

dxFeed, a prominent market data solutions and index management provider for the global financial industry, has successfully confirmed its SOC 2 audit status with additional Trust Services Criteria: Availability and Confidentiality. This achievement highlights the company’s commitment to maintaining the highest levels of security, reliability, and trust in its services.

What is SOC 2?

SOC (System and Organization Controls) 2 is a rigorous auditing process that evaluates the security and privacy controls of service providers. The American Institute of Certified Public Accountants (AICPA) developed the SOC 2 framework to ensure that service providers protect their clients’ sensitive data and maintain confidentiality, integrity, and availability.

Why is SOC 2 Important for dxFeed?

As a leading market data solutions and index management provider, dxFeed serves a wide range of financial institutions, including investment firms, banks, and insurance companies. These organizations rely on dxFeed’s services to make informed investment decisions, manage risk, and maintain regulatory compliance. By achieving SOC 2 Type 2 status, dxFeed demonstrates its commitment to protecting client data and ensuring the reliability of its services.

What are the Additional Trust Services Criteria?

In addition to the standard SOC 2 criteria, dxFeed has successfully met the additional Trust Services Criteria: Availability and Confidentiality. These criteria assess a service provider’s ability to maintain the confidentiality of client data and ensure its availability to authorized users. By meeting these criteria, dxFeed has demonstrated that it has implemented robust controls to protect client data from unauthorized access, disclosure, or use, and that its services are designed to be highly available and resilient.

How does dxFeed Maintain SOC 2 Compliance?

dxFeed maintains SOC 2 compliance through a combination of people, processes, and technology. The company has implemented robust security controls, including encryption, access controls, and intrusion detection systems, to protect client data. It also conducts regular security assessments and penetration testing to identify and remediate potential vulnerabilities.

dxFeed’s SOC 2 compliance is also supported by its strong culture of security awareness. The company provides regular training and education to its employees on security best practices, and it has established a comprehensive incident response plan to quickly respond to any security incidents.

Benefits of SOC 2 Compliance for dxFeed Clients

dxFeed’s SOC 2 compliance offers several benefits to its clients, including:

1. Enhanced Security: By maintaining SOC 2 compliance, dxFeed ensures that its services are designed and operated with robust security controls, protecting client data from unauthorized access, disclosure, or use.
2. Increased Trust: SOC 2 compliance demonstrates dxFeed’s commitment to maintaining the confidentiality, integrity, and availability of client data, fostering trust between dxFeed and its clients.
3. Regulatory Compliance: By meeting the additional Trust Services Criteria: Availability and Confidentiality, dxFeed helps its clients comply with relevant regulations, such as the General Data Protection Regulation (GDPR) and the Securities and Exchange Commission (SEC) cybersecurity guidance.
4. Improved Service Reliability: dxFeed’s SOC 2 compliance ensures that its services are designed to be highly available and resilient, minimizing downtime and disruptions for clients.

Conclusion

dxFeed’s successful completion of the 2023-24 cycle of its SOC 2 Type 2 audit, with additional Trust Services Criteria: Availability and Confidentiality, demonstrates the company’s commitment to maintaining the highest levels of security, reliability, and trust in its services. By meeting these rigorous standards, dxFeed has proven that it is a trusted partner for financial institutions seeking market data solutions and index management services.