New York, NY, Dec. 11, 2024 (GLOBE NEWSWIRE) — Matrix Applications, LLC (“Matrix”) has successfully completed the 2024 System and Organization Control (SOC) 1 and SOC 2 Type 2 audits for its TradeBlazer Collateral Management System and Managed Services. The successful completion of these audits is a testament to Matrix’s ongoing commitment to the highest degree of cybersecurity and data protection. The audits were conducted by Schellman & Company, a trusted provider of attestation compliance services.
Developed by the American Institute of Certified Public Accountants (AICPA), the SOC information security standard is an audit report that assesses a company’s internal controls and processes related to financial reporting (SOC 1) and information security, availability, processing integrity, confidentiality and privacy (SOC 2).
Uday Kulkarni, Compliance Officer at Matrix Applications, commented on the achievement, saying “The confidentiality and integrity of our clients’ data is our utmost priority. This achievement is proof of our ongoing dedication to safeguarding our clients’ data by upholding the highest standards in the industry.”
“We always look for new ways to maintain the highest security standards in the industry. Our clients trust us to always take the necessary precautions and maintain data security, especially as it has become an increasingly vital aspect of our service. We will continue to maintain our high security standards and seek out new ways to ensure information security,” says Mohammad Ejaz, Chief Information Officer at Matrix Applications.
The SOC 1 and SOC 2 compliance audits and examinations were done by a leading independent, third-party audit firm in accordance with the standards established by the AICPA. This report is a testament to the design and operating effectiveness of controls put in place by Matrix Applications.
Emmaline Chen, Compliance Analyst at Matrix Applications, says “This is my second year completing this certification for Matrix Applications and I am happy to be a part of this project. Our continuous compliance proves our steadfast commitment to protecting our clients’ trust and privacy.”
About Matrix Applications, LLC
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. With in-house and offshore developers, we provide our clients with the right solution at the right price. 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 systems and managed services for firms big and small.
