Leverate Becomes First ISAE 3402 Type II Compliant Retail FX Tech Provider

With market sentiment taking a tiresome turn with the Cyprus debacle the trading community is putting more emphasis on credibility and reliability of firms operating in the world’s most liquid asset class. Leverate, a provider of technology solutions for participants in the margin FX markets has announced that it has successfully been audited by Deloitte and has been certified as ISAE 3402 Type II compliant and effective. This marks the culmination of an 18-month-long project, with the express goal of meeting and exceeding banking standards, proving that Leverate holds the data security of itself and of its clients as paramount.

“The pursuit of our ISAE audit stemmed from the demands of current tier-one clients of ours,” says co-CEO Doron Cohen. “This enables enterprise and tier-one institutions to partner with a Technology Provider Technology Provider A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro A technology provider is an individual, company, or entity that creates, render services and sells software applications or hardware. Currently, there are four types of tech providers which are as followed:Software-as-a-Service (SaaS) – Functioning as a subscription-based licensing and delivery model, SaaS is centrally hosted and may also be referred to as on-demand software. Tech Hardware – Powerful tech providers such as Apple, Oculus Rift, FitBit, and Samsung are examples of tech hardware pro Read this Term without prior extensive due diligence.”

Leverate is currently the only retail FX technology solutions provider that has been audited and certified with the necessary controls and limitations to be awarded this level of Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term. The ISAE (International Standard on Assurance Engagements) 3402 Type II compliance, unlike Type I, ensures the actual application and implementation of controls.

This compliance, the next generation of the SAS 70 standard, exemplifies Leverate’s commitment to system availability and proper private data handling from development and QA to backup and availability.