Matrix Applications Successfully Completes SOC 2 Type II for TradeBlazer Collateral Management System
NEW YORK, Nov. 8, 2022 /PRNewswire/ -- Matrix Applications, LLC ("Matrix") has successfully completed a System and Organization Control (SOC) 2 Type II audit. The audit was performed by Schellman & Company for its TradeBlazer Collateral Management System and Managed Services. This attestation demonstrates the company's ongoing commitment to the highest standard of data protection and security.
Speaking on the achievement, Dipu Mathew, System & Data Analyst at Matrix Applications said, "This milestone is a testament that data security is a top priority at Matrix. We take pride in our leading financial technology that uphold rigorous security measures to ensure the data of our clients and partners are protected."
Developed by the American Institute of Certified Public Accountants (AICPA), the SOC 2 information security standard is an audit report on the examination of controls relevant to the trust services criteria categories covering security, availability, processing integrity, confidentiality and privacy. A SOC 2 Type II report describes a service organization's systems and whether the controls they have in place to satisfy the SOC criteria are operating effectively over an agreed-upon observation period.
"We are committed to safeguarding the data of Matrix clients, especially given the increasingly critical role of information security in every aspect of our service delivery. Our diligence and forward-thinking approach will not stop here. Matrix will continue to proactively investigate and pursue new ways to upkeep our high security standards," added Charles Corbin, Senior Systems Engineer at Matrix Applications.
The SOC 2 compliance audit and examination were done by a leading independent third-party auditing firm in accordance with the standards established by the AICPA. TradeBlazer's SOC 2 Type II report was issued with no noted exceptions. This report is a testament to the design and operating effectiveness of controls.
Jacki Naidrich, Operations Associate at Matrix Applications commented, "Our dedication to protecting client data and privacy is at the forefront of our core values. This achievement challenges us to continue our efforts towards strategic information security initiatives."
About TradeBlazer
TradeBlazer is a front, middle and back-office solution providing end-to-end processing of fixed income and equity securities lending transactions. Straight-through-processing from brokers down to clearing banks and FICC for novation and netting with accounting journal entries into a sub-ledger, TradeBlazer provides seamless processing from point of entry through settlement. The system helps track counterparty credit exposure, risk, and fails, while acting as a "books and record" system for regulatory requirements.
TradeBlazer integrates fixed income trading, collateral management and settlement functionality for banks, broker-dealers, funds and asset managers and provides best-in-class, extensive support of fixed income, repo, and MBS transactions. TradeBlazer's integrated functions cover accounting, credit, operations, risk management and trading modules, coupled with real-time clearance functions. Extensive online and batch reporting simplifies the Operation team's responsibilities.
About Matrix Applications
Matrix Applications is a New York-based fintech service bureau that offers a suite of collateral management, margining and clearing systems for institutional fixed income trading and equities securities lending. We are a team of capital markets and systems professionals delivering financial technology solutions to institutional firms since 2000. We work hands-on with our clients to identify an optimal mix of services to best fit their needs, from systems to back-office operations assistance. Comprised of industry veterans and financial professionals, we leverage our extensive technical experience, a deep network across the finance industry and a team of Ops, regulatory and legal gurus to deliver bespoke managed services for firms big and small.
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Colleen Judge
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SOURCE Matrix Applications, LLC
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