Corvil Says Standards, Collaboration and AI-Powered Automation are Critical to Building Cyber Resilience in Global Financial Markets
As leaders in the trading community gather for the FIX Trading Community, 2018 EMEA Trading Conference, Corvil shines spotlight on cyber risks in algorithmic trading
DUBLIN, Ireland, March 15, 2018 (GLOBE NEWSWIRE) -- Corvil Director, Security Product Management, Graham Ahearne, is among the cybersecurity panelists at today's FIX Trading Community Annual EMEA Conference, enlisted to address how financial markets can mitigate cyber risk.
While most financial institutions have robust information security solutions and programmes in place, outmaneuvering today's advanced cyber attackers, who have industrialised their tactics, techniques and procedures, remains one of the biggest operating challenges. The risk should not be underestimated with regulators such as Steve Peikin, co-director of the U.S. Security and Exchange Commission (SEC), warning last year: "The greatest threat to our markets right now is the cyber threat."
Industry associations such as the FIX Trading Community are playing a key role in spearheading standards to mitigate risks. January 2018 saw the release of the FIX-over-TLS (FIXS) standard and guidelines to help users of the FIX protocol meet security requirements. FIXS is part of a larger programme of work that the FIX Trading Community initiated in response to the cybersecurity challenge.
In supporting FIX's cyber initiatives Graham Ahearne says: " The advanced, persistent threat landscape poses an enormous risk to financial markets. The significance of industry collaboration and knowledge sharing cannot be overstated, which is why events like FIX EMEA conference are critically important. "
Trading environments tend to be optimized for one thing: speed. Nowhere else in the world is data moving this fast, in such large volumes, with so much economic value at stake. Performance and speed are paramount, and trading networks do not want additional overhead to weigh them down, which makes adding traditional security systems challenging.
Ahearne says: " There is also a perception, because they are typically segmented from the rest of the enterprise IT infrastructure, that trading environments are safer than others. With more than 80 percent of breaches  stemming from accidental mishaps or malicious insiders, these environments can become compromised ."
While in a normal attack, hackers may need to steal data or install ransomware, in financial markets, hackers only need to slightly tweak an algorithm or impair the performance of the network overall. Electronic trading networks are heavily automated, but they play such a huge role in the stock market at large that a rogue trading algorithm could do significant damage.
Whether dealing with nation state attackers, criminals, hacktivists, or simply careless employees, CISOs in financial markets have now taken on the unique role of an independent risk monitor watchdog. Corvil believes AI-powered automation and advanced analytics will also play a big role in the way forward.
Optimal cyber security needs to understand the content of communications, as well as patterns and types of communication. Different, anomalous and malicious content along the same communication paths, tendencies, and applications may still constitute a breach. The only way to govern the proper function of algorithms is by watching over the machines themselves - not just what they are doing, but what they are actually saying to each other.
FIX Trading Community is the non-profit, industry-driven standards body at the heart of global financial trading. The 2018 EMEA Trading Conference takes place on 15 March 2018 and will cover the most pressing issues facing the institutional trading community and provide a neutral platform for buy-side, sell-side, exchanges, vendors and regulators to share their ideas on how the community can continue to collaborate. Graham joins fellow panelists Ian Glover, President, CREST; Charles Kilkenny, CEO, Actuare and Russell Wing, Head of Information Security, LME on the "Mitigating Cyber Risk" panel session which is moderated by Julia Streets, Founder & CEO, Streets Consulting Ltd.
Corvil is the industry leader for deriving Security, Operational, and Business intelligence from network data. As companies adopt faster and smarter machine technology, it becomes critical to tap into richer and more granular machine data sources to safeguard the transparency, performance and security of critical infrastructure and business applications. The Corvil streaming analytics platform captures, decodes, and learns from network data on the fly, transforming it into machine-time intelligence for network, IT, security and business teams to operate efficiently and securely in this new machine world. Corvil uses an open architecture to integrate the power of its network data analytics with the overall IT ecosystem providing increased automation and greater operational and business value outcomes for its users. The Corvil solution is trusted by leading financial institutions to safeguard their businesses across the globe involving 354 trillion messages with a daily transaction value in excess of $1 trillion.
Learn more about Corvil: Corvil.com | Twitter | LinkedIn
Notes to editor:
 81% of hacking-related breaches leveraged either stolen and/or weak passwords - 2017 Verizon DBIR.
Press Office at Corvil
+353 1 859 1040
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Corvil via Globenewswire
Om Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York
+1 212 401 8700http://www.nasdaqomx.com
NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.
Følg saker fra Nasdaq GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Nasdaq GlobeNewswire
Bombardier Delivers First 90-seat Q400 Aircraft to SpiceJet21.9.2018 16:00 | Pressemelding
SpiceJet becomes the first airline to take advantage of the Q400 aircraft’s increased profit potential TORONTO, Sept. 21, 2018 (GLOBE NEWSWIRE) -- Bombardier Commercial Aircraft today announced the delivery of its first 90-seat Q400 aircraft. The aircraft was handed over to India’s SpiceJet Limited (“SpiceJet”) the launch operator for the extra-capacity, 90-seat aircraft. “We are excited to induct the 90-seat Q400 aircraft into our fleet,” said Ajay Singh, Chairman and Managing Director, SpiceJet. “The additional seats and performance improvements will result in substantial reduction in unit costs and also we will enable us to address our market needs in the regional space.” “The delivery of the first 90-seat Q400 aircraft showcases the commitment of Bombardier’s Q Series turboprop program to respond to customer requirements as they address traffic growth in regional markets,” said Todd Young, Head of the Q Series Aircraft Program, Bombardier Commercial Aircraft. “I thank and congratul
Service Providers Speed Deployment, Reduce Costs with Patton Cloud Edge Orchestration Service20.9.2018 22:16 | Pressemelding
Now, Telecom and UCaaS service providers can easily provision, manage, monitor, secure, alert, troubleshoot, analyze, and optimize services on the customer premise GAITHERSBURG, Md., Sept. 20, 2018 (GLOBE NEWSWIRE) -- Patton Electronics—US-manufacturer of UC, cloud, and IoT-enabling solutions for carrier, enterprise, and industrial networks—has launched the new Patton Cloud service for carriers and service providers that deliver All-IP and hybrid voice-and-data services to business subscribers. Patton Cloud delivers a low-cost, easy-to-use, web-based edge-orchestration service that delivers a superior user experience. It offers remote touchless provisioning, monitoring, and troubleshooting—as well as security and alerting tools that reduce service turn-up costs, trouble tickets, and subscriber attrition. The Patton Cloud service offers quality-control mechanisms including pro-active monitoring and troubleshooting—combined with feature-license distribution pools for managing value-added
Inspirata Promotes Top Executives to Expanded Roles in Digital Pathology20.9.2018 21:12 | Pressemelding
Inspirata Founder and Executive Vice President, Mark Lloyd, is taking on an expanded role overseeing product management, and Inspirata Senior Vice President, Andrew Chomos, has been appointed to General Manager, Digital Pathology, overseeing the Center of Excellence in Pittsburgh along with all North America sales and customer support efforts. Tampa, FL, Sept. 20, 2018 (GLOBE NEWSWIRE) -- Cancer informatics and digital pathology workflow solution provider Inspirata®, Inc. announced today that two of its executives have taken on expanded roles in the company. The two are Inspirata Executive Vice President and Founder, Mark Lloyd, and Senior Vice President and General Manager, Digital Pathology, Andrew Chomos. Dr. Lloyd has accepted the expansion of his role to include product management for Digital Pathology. He is former cancer researcher at both Lombardi Cancer and Moffitt Cancer Center and is Inspirata’s foremost subject matter expert and thought leader on digital pathology and image
Tetraphase Pharmaceuticals Announces Adoption of Commission Decision Granting Marketing Authorisation Approval in the European Union for XERAVA™ (eravacycline) for the Treatment of Complicated Intra-Abdominal Infections20.9.2018 19:08 | Pressemelding
– Broad Product Label for Treatment of Complicated Intra-Abdominal Infections – – Phased Commercial Launch Expected in the First Half of 2019 – WATERTOWN, Mass., Sept. 20, 2018 (GLOBE NEWSWIRE) -- Tetraphase Pharmaceuticals, Inc. (NASDAQ:TTPH), a biopharmaceutical company focused on developing and commercializing novel antibiotics to treat life-threatening multidrug-resistant (MDR) infections, today announced that the European Commission (EC) has adopted the Decision granting marketing authorisation for XERAVA (eravacycline) for injection for the treatment of complicated intra-abdominal infections (cIAI) in adults in the European Union. In clinical trials, XERAVA was well-tolerated and achieved high clinical cure rates in patients with cIAI, demonstrating statistical non-inferiority to two widely used comparators – ertapenem and meropenem. “The European approval of XERAVA, right after our recently announced FDA approval, marks our second significant regulatory approval within one month
UPDATE— Taconic Biosciences Becomes the First Animal Model Provider on General Services Administration Contract Schedule20.9.2018 18:07 | Pressemelding
RENSSELAER, N.Y., Sept. 20, 2018 (GLOBE NEWSWIRE) -- Taconic Biosciences, a global leader in providing genetically engineered rodent model solutions, announces a new relationship with Government Scientific Source (GSS). GSS is a leading dedicated distributor of laboratory equipment to federal, state, and local governments on contract with the GSA (General Services Administration). By having Taconic’s products available via GSS, they can now be accessed by all federal agencies, including but not limited to the National Institutes of Health and the Department of Defense. Taconic is the only animal model provider affiliated with GSS and the only animal model provider available on GSA Contract. “An important component of providing customers with the best animal model solutions is access to key resources. Through this exciting new relationship with GSS, Taconic can now easily connect with scientists doing some of the most valuable research in the world and provide them with high quality sol
Digital Transformation is Not a One-Off — It’s About the Digital Journey20.9.2018 17:44 | Pressemelding
SoftServe study confirms four digital journey states with 71 percent of enterprises reporting early stages of adoption AUSTIN, Texas, Sept. 20, 2018 (GLOBE NEWSWIRE) -- SoftServe, a leading digital authority and consulting company, today released the results of its market research study that examines how enterprises are responding to the digital economy. The research found that 71 percent of the respondents in the United States and the European Union are in the early stages—Reveal and Transform—of four unique states across the Enterprise Digital Journey. For an in-depth analysis and the full results, read The Enterprise Digital Journey white paper. With fierce competition in today’s global landscape, leveraging cutting-edge technology and deploying new business models is not a one-off pursuit, but rather a continuous process of iteration and refinement. Companies should stop referring to Digital Transformation and instead plan for a continuous Digital Journey. “The term Digital Transfo
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom