Matrix Applications Successfully Completes SOC 2 Type II for TradeBlazer Collateral Management System
NEW YORK, November 8, 2022 /PRNewswire/ — Matrix Applications, LLC (“Matrix”) has successfully completed a Type II System and Organizational Control (SOC) 2 audit. The audit was conducted by Schellman & Company for its system TradeBlazer warranty management and managed services. This certification demonstrates the company’s ongoing commitment to the highest standards of data protection and security.
Speaking about the achievement, Dipu MathewSystem & Data Analyst at Matrix Applications, said, “This milestone demonstrates that data security is a top priority at Matrix. We pride ourselves on our state-of-the-art financial technology that maintains rigorous security measures to ensure our customers’ and partners’ data is protected. .”
Developed by the American Institute of Certified Public Accountants (AICPA), the SOC 2 Information Security Standard is an audit report on the review of controls relevant to the categories of trust services criteria covering security, availability, processing integrity, confidentiality and privacy. A SOC 2 Type II report describes a service company’s systems and whether the controls it has in place to meet SOC criteria are operating effectively over an agreed observation period.
“We are committed to protecting Matrix customer data, particularly given the increasingly critical role of information security in all aspects of our service delivery. Our diligence and forward-thinking approach will not will not stop there. Matrix will continue to proactively investigate and pursue new ways to maintain our high security standards,” added Charles Corbinsenior system engineer at Matrix Applications.
The audit and SOC 2 compliance review was conducted by a leading independent third-party auditing firm in accordance with standards established by the AICPA. TradeBlazer’s SOC 2 Type II report was released with no exceptions noted. This report attests to the design and operating effectiveness of the controls.
Jacki Naidrichoperations associate at Matrix Applications, said, “Our commitment to protecting customer data and privacy is at the forefront of our core values. This achievement challenges us to continue our efforts in support of strategic information security initiatives.
TradeBlazer is a front, middle and back-office solution providing end-to-end processing of fixed income and equity securities lending transactions. Direct processing from brokers to clearing banks and FICC for novation and clearing with accounting entries in a sub-ledger, TradeBlazer provides seamless processing from point of entry to settlement. The system helps track counterparty credit exposure, risk and defaults, while acting as a “books and records” system for regulatory requirements.
TradeBlazer integrates fixed income trading, collateral management and settlement functionality for banks, brokers, funds and asset managers and provides extensive, industry-leading support for income securities trading fixed, reverse repos and MBS. TradeBlazer’s integrated functions cover accounting, credit, operations, risk management and trading modules, coupled with real-time clearance functions. Numerous online and batch reports simplify the responsibilities of the operations team.
About Matrix Applications
Matrix Applications is a New YorkNew York-based fintech services bureau that offers a suite of collateral, margin and clearing management systems for institutional fixed income trading and equity securities lending. We are a team of capital markets and systems professionals providing financial technology solutions to institutional businesses since 2000. We work closely with our clients to identify an optimal mix of services that best suits their needs, from systems to assistance with back-office operations. Comprised of industry veterans and finance professionals, we leverage our extensive technical experience, deep financial industry network and team of Ops, regulatory and legal gurus to deliver Tailor-made managed services to businesses large and small.
SOURCE Matrix Applications, LLC