ISIT partners with Acette Technologies to help UAE online traders meet infrastructure requirements
New service to assist brokerage firms to meet the technology infrastructure requirements of the UAE Securities and Commodities Authority
ISIT AE has announced a new partnership with Acette Technologies FZ LLC to assist brokerage firms offering online trading in complying with the infrastructure standards of the UAE Securities and Commodities Authority.
The new regulations require online traders to provide data protection and security during internet transactions. Also, a disaster recovery site which contains a replica of the existing site must be maintained and updated in real time, in order to ensure high data availability and minimise data loss.
Mahesh Vaidya, CEO of ISIT AE said “We are delighted to provide a unique range of products and services to the market to help ease the mandates imposed by the SCA on financial brokerage firms across the UAE. Our extensive experience in designing and implementing wholly compliant solutions that offer the highest levels of availability and full disaster recovery, together with our unrivalled expertise in servicing customers throughout the UAE, has allowed us to provide crucial storage services that meet the standards now set by the SCA”.
The Securities and Commodities Authority also requires a client login to the broker's Internet trading portal to be done over a SSL session, and the client to be identified through a one time password or a hardware personal security module.
Acette Technologies has stated it will provide solutions for this, such as the IdentityGuard Mini Token and related server software. Acette has also said that SSL certificates would be provided by Entrust, a trusted certification authority.
Sunil Sivanand, Managing Director of Acette Technologies, said “The one-time-passwords generated by Entrust tokens are generated using highly secure algorithms, which ensures random production of such the passwords and can be associated back to the client for the purpose of validation. The use of hardware tokens with embedded algorithms is the ideal solution to ensure that the online trading mechanism is adequately secure.”