TruSight Completes Comprehensive Risk Assessment of Euronext

Methodology Validates Leading Pan-European Stock Exchange's Ability to Meet the Requirements of Financial Institutions

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Jan 11, 2022, 10:00 ET

NEW YORK, Jan. 11, 2022 /PRNewswire/ -- TruSight, the financial industry's leading provider of validated third-party risk data, announced today that it has completed a comprehensive risk assessment of the leading pan-European market infrastructure, Euronext (ENX.PA). The assessment provides high-quality, fully validated data on Euronext based on a standardized, industry-backed control assessment methodology designed to meet the rigorous requirements of financial institutions.

The TruSight assessment methodology covers 27 diversified control domains, including information and cybersecurity, privacy, business resiliency, and other operational risk areas, replacing duplicative questionnaires and response processes with robust test steps and attribute validation derived from collaboration among industry leaders. TruSight's comprehensive risk evaluation of Euronext included structured inquiries, policy and procedure inspection, evidence-based validation, and dynamic control observations and validation. In addition to the Euronext assessment, TruSight assessed the applicable data center providers to validate that the resiliency requirements of a stock exchange are enabled. An in-depth data center assessment was conducted at the target production and backup sites to fully cover the control set.

"Obtaining an external validation of our risk controls is an important part of our strategy as the leading market infrastructure in Europe, and as a reference in terms of operational excellence," said Georges Lauchard, chief operating officer of Euronext. "We chose TruSight as its methodology has become the global standard for assessing third-party risk."

The TruSight utility model, in which assessments are performed once and shared by many, reduces the time and effort spent by both financial services institutions and third parties by eliminating the need for repetitive and duplicative questionnaires. The TruSight assessment methodology also leads to more consistent, higher-quality data, quicker third-party onboarding, and better allocation of resources to managing risk.

"Euronext recognizes the value of an industry-standard third-party risk utility and has taken proactive steps to engage with TruSight to ensure it meets the most stringent requirements of the financial services market," said Jonathan Pressman, CEO of TruSight. "Completing the TruSight assessment enables Euronext to enhance its risk assurance and achieve significant efficiency gains for the market industry."

About TruSight

TruSight, an industry-initiated utility, is the leading provider of comprehensive, validated third-party risk assessments. Developed and backed by five of the largest global financial institutions, including American Express, Bank of America, JPMorgan Chase, BNY Mellon, and Wells Fargo, the TruSight methodology combines best practices and standardization to deliver the highest quality data, enabling businesses to gain greater visibility into supply chain resilience.

About Euronext

Euronext is the leading pan-European market infrastructure, connecting European economies to global capital markets, to accelerate innovation and sustainable growth. It operates regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway, and Portugal. With close to 2,000 listed equity issuers and around €6.9 trillion in market capitalisation as of the end of December 2021, it has an unmatched blue-chip franchise and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets, one of Europe's leading electronic fixed income trading markets, and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, FX, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities, and Indices. The Group provides a multi-asset clearinghouse through Euronext Clearing, and custody and settlement services through Euronext Securities central securities depositories in Denmark, Italy, Norway, and Portugal. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. In addition to its main regulated market, it also operates a number of junior markets, simplifying access to listing for SMEs.