Bill Munroe Director of product marketing at Netegrity
Bill Munroe Director of product marketing at Netegrity

Managing online security

Bill Munroe shows us how, by utilising the defense in depth principle, organisations can greatly reduce the risks of delivering high value FX services over the Internet.

First Published: e-Forex Magazine 10 / Features / April, 2003

Over the past 5 years, the global foreign exchange market has been transformed from inefficient client server, phone and fax processes to a totally Web based highly automated trading service with advanced straight through- processing capabilities, real-time buyer-side quotes and complete settlement confirmation and SSI data. A leading global financial institution reported that total FX transaction times were reduced from 2 days to less than 5 minutes with the rollout of their online FX Trading solution. The implications of the decreased transaction times means that banks can effectively increase the number of transactions processed thereby increasing top line revenue, while at the same time decrease transaction costs increasing profitability.The Internet systems also creates significant risks not least of which is security. The Internet is plagued with weekly reports of malicious hacking, virus attacks, denial of service attacks, identity theft and fraud. So the question that IT and business managers alike...continued

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