Finery Markets Achieves Major Security Milestone
Finery Markets, a prominent player in the realm of non-custodial crypto trading, has reached a significant milestone by successfully completing its SOC 2 Type 2 examination. This accomplishment underscores the company’s commitment to upholding stringent security protocols and protecting client data in an ever-evolving digital asset landscape.
What Does SOC 2 Type 2 Mean for Finery Markets?
The completion of this examination denotes that Finery Markets has thoroughly evaluated its controls and procedures, ensuring they align with the rigorous standards typically reserved for traditional financial institutions. This is a significant achievement that emphasizes the company’s promise to deliver exceptionally secure services to its institutional clients worldwide.
Insights from Finery Markets' Leadership
“Achieving our SOC 2 Type 2 examination is a pivotal moment for us in enhancing trust and confidence among our clients and other market participants,” stated Ilia Drozdov, CEO and co-founder of Finery Markets. “This milestone not only reiterates our mission to provide innovative and secure trading services within the crypto sector but also highlights our commitment to maintaining the highest standards of security across our operations.”
Finery Markets' Commitment to Security Excellence
This successful examination builds on the foundation laid out by Finery Markets’ earlier completion of the SOC 2 Type 1 examination. The preparation required for the SOC 2 Type 2 process involved a detailed analysis and improvement of the firm’s internal practices, allowing them to better cater to the needs of their clients.
Continuous Commitment to Quality and Innovation
“Our journey hasn't just been about achieving compliance, but also about fostering innovation and flexibility. This SOC 2 Type 2 achievement came after months of diligent effort to refine our policies and procedures,” added Drozdov. “We strive to show that, even with a startup ethos and a culture of innovation, we can ensure our institutional clients' peace of mind.”
Flagship Position in the Digital Asset Space
Finery Markets stands out as the first crypto Electronic Communication Network (ECN) to accomplish both SOC 2 Type 1 and Type 2 examinations. This notable achievement further solidifies its leadership within the digital asset marketplace, assuring clients of its robust security measures and reliable trading practices.
About Finery Markets
Finery Markets provides advanced trading infrastructure designed specifically for institutional clients across numerous regions. With its hybrid trading platform that combines aggregated order books and request for quote (RFQ) functionalities, it caters to diverse client needs in a seamless manner. Since its inception in 2019, the company has expanded its network, serving over 150 digital asset clients, which include brokers, payment providers, OTC desks, and hedge funds. Notably, in 2024, Finery was recognized as one of the top 50 emerging companies in the prestigious Deloitte Technology Fast 50 competition.
About 360 Advanced
For nearly two decades, 360 Advanced has focused on providing client-centric cybersecurity and compliance solutions. The company specializes in offering a range of compliance services that span various industries, ensuring that businesses can confidently navigate the complexities of cybersecurity. Their services include SOC compliance, penetration testing, ISO 27001, and more, all tailored to meet the unique needs of each client.
Frequently Asked Questions
What is SOC 2 Type 2?
SOC 2 Type 2 is a standard that evaluates how a service provider manages data to protect the interests of its clients and ensure privacy and security over a defined period.
How does Finery Markets ensure client data security?
Finery Markets implements comprehensive security practice evaluations and third-party assessments to ensure robust protection of client data.
Why is SOC 2 Type 2 completion significant?
Completing SOC 2 Type 2 signifies a company’s commitment to security best practices, establishing credibility and trust with its clients.
What services does Finery Markets offer?
Finery Markets provides a hybrid trading platform, enabling clients to engage in trading through aggregated order books and RFQ functionalities across numerous countries.
What role does 360 Advanced play in Finery Markets' examination?
360 Advanced provided critical guidance and assistance throughout Finery Markets' preparations for both SOC 2 Type 1 and Type 2 examinations, ensuring thorough compliance practices.
