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Traders: Deloitte & Touche Issues SOC 2 Report on TORA Security Controls

Mark Dowd

Mark Dowd

TORA, provider of cloud-based order and execution management system (OEMS), announced that the company has undergone a Service Organization Control 2 (SOC 2) examination resulting in a Certified Public Accountant’s report stating that TORA has designed and implemented controls to meet the criteria for the security principle set forth in TSP section 100, 2016 Trust Services Principles (TSP) and Criteria for Security, Availability, Processing Integrity, Confidentiality, and Privacy over its TORA OEMS and TORA Portfolio and Risk Management System (PRMS). The engagement was performed by Deloitte & Touche LLP.

A SOC 2 report is designed to meet the needs of existing or potential clients who need assurances about the effectiveness of controls in place at a service organization that are relevant to the security, availability, or processing integrity of the system used by the service organization to process clients’ information, or the confidentiality or privacy of that information.

“As asset managers continue to outsource their technology, SOC 2 examination will become necessary for vendors offering cloud-based and managed service solutions,” said Spencer Mindlin, Analyst at Aite Group. “The industry is increasingly keen to see proof of internal control policies and practices related to security, so vendors that provide such evidence will be in good stead for future evaluation.”

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