Modulus Security Corporation, Created Under Modulus Global Umbrella, Developed To Handle Cybersecurity Threats
SCOTTSDALE, Arizona, Nov. 3, 2014 /PRNewswire/ -- Modulus Global, developer of such advanced financial technology products as the M4 Trading Platform, the most secure trading platform in the world, today announced the development of a new arm of the company dedicated to handling cybersecurity threats. Modulus Security Corporation has been under construction since early this year, acquiring world-class talent, including nuclear and cyber security experts with top clearances from the United States Government.
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"Corporate data theft is serious. Data breaches and security attacks are major issues in the new global economy. But frankly, while Target and Home Depot have taken major hits in consumer confidence, their issues cannot compare to the devastation which could be associated with the collapse of a brokerage house," says Jason Grandon, Chief Marketing Officer of Modulus Global.
In April, Senate Commerce Chair, West Virginia Senator Jay Rockefeller, urged the SEC to introduce more strenuous guidance regarding companies' abilities to defend against cyber-attacks. "Investors deserve to know whether companies are effectively addressing their cyber security risks… Formal guidance from the SEC on this issue will be a strong signal to the market that companies need to take their cyber security efforts seriously," the letter said.
Also in April, the Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert to provide information concerning cybersecurity preparedness in the securities industry.
"From what we've seen out of Washington, what is now classified as SEC Cybersecurity Guidance will soon translate into regulatory requirements. It is not just the coming SEC regulations on cybersecurity which will pose a compliance problem for companies. They also need to be concerned about cybersecurity executive orders, about regulators including OCIE, FINRA, and others. Registered broker-dealers and investment advisors need to be proactive by re-examining their security now. The National Institute of Standards and Technology (NIST) provides guidance, such as NIST 80053 Provision 3," says Richard Gardner, CEO of Modulus Global.
"Whether we're talking about banks, financial markets, brokerages, or big box stores, most IT departments are simply not in a strong position to deal with software and network security attacks. Weak infrastructure is a real problem. This is a true global threat, particularly for companies rich in intellectual property," continued Gardner.
Modulus Security Corporation will be consulting with firms across an array of industries, focusing particularly on those within the financial sector, to provide Penetration Testing, Trading Platform Security Testing, DDoS Preparedness Reviews, Onsite IT Risk Assessments and Training, and Workforce Security Reviews and NIST 80053 Provision 3 Compliance Reviews.
About Modulus Global:
Since 1997, Modulus has provided advanced financial technology products and services to professional traders, brokerages, trading firms, and educational, governmental, and non-profit institutions throughout 94 countries. The company's products and services reach over 3.2 million traders and investors around the world.
For more information about Modulus Global, please visit www.modulusglobal.com and follow the company on LinkedIn.
To schedule an interview with CEO Richard Gardner, contact Modulus Chief Communications Officer, Charles Catania at [email protected] or call (888) 318-3754 x87.
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