Vendors under new scrutiny in CFTC due diligence push
The planned cyber resilience regime will force dealers to subject “critical” tech vendors to stricter audits.
Suppliers of trading technology are nervous of the effect of an impending cyber security rule that would force swaps dealers to tighten due diligence standards, with some vendors suggesting service contracts may be thrown into doubt.
The issue of cyber security in cleared trades rose to the fore earlier this year when trading tech giant Ion Group was compromised by hackers, leaving 42 customers unable to access key services and supervisors demanding answers for the outages which held up
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