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Putting the Smart in Smartphone Security: Six Consumer Tips

By Katie Sloane,
Thursday, August 14th, 2014

Mobile devices have transformed the way we manage our everyday lives: from how we track our bank accounts, to interacting with friends and family to booking travel, and so on.  Everything you need is at your fingertips, but are you taking the proper security measurements to protect your device?  Below are a few tips to help keep your smartphone’s data safe. 

  1. Set a Password: When you do not set a password to lock your phone, anyone who obtains possession of the device has instant access to all of your apps that automatically log-in upon launching. This is a simple security measure to take and yet, according to Consumer Reports' annual State of the Net Survey, only 36 percent of smartphone owners have a passcode. From a business use perspective, any device that accesses corporate email or networks should have a complex password and be managed by mobile device management tools such as AirWatch or Good Technology.

  2. Mobile Security Apps: Looking to the future, we expect the adoption of mobile device security apps that provide antivirus, privacy and anti-malware protection to increase. And for good reason. According to the June 2014 McAfee Labs Threat Report, mobile malware has increased by 167 percent in the past year alone. Companies, such as AirWatch, aim to ensure your enterprise mobility deployment is secure and corporate information is protected with end-to-end security. 

Categorized under: Security  Communications  Software  Trends We're Seeing 



Five Myths about Voice over IP (VoIP): Hedge Funds Take Notice

By Mary Beth Hamilton,
Tuesday, August 12th, 2014

Voice over IP has come a long way especially in the business world, but many investment firms still have hesitations about making the switch. In honor of our recently enhanced Eze Voice service, which runs over the Eze Private Cloud Network, we decided to tackle five common myths about Voice over IP.

MYTH 1: Poor Call Quality – Everyone will know I’m on VoIP

Call quality is a key concern and can be impacted by a number of items including the network, available bandwidth and even the type of phones being used. However, a well-designed business-caliber VoIP system can deliver quality of service comparable to an in-house phone system. In business settings, where calls are made over private IP connections, Quality of Service (QoS) can be monitored and guaranteed because the entire IP connection is controlled by the party making the call.

When evaluating VoIP services, it is important to inquire about the underlying network and how voice traffic is prioritized and routed. You want a provider that has full control over network traffic and can ensure high quality of service. For added confidence, ask to speak with existing VoIP customers (over the phone!) to hear about their experiences first-hand.

MYTH 2: VoIP is Unreliable – I’ll Experience Downtime

A natural extension of the call quality concern is the reliability concern. While consumer-grade VoIP services work over the Internet to deliver low cost services, Business-grade VoIP services often use the Internet as a backup and have private IP point-to-point lines for primary connections. If Internet is the primary transit, be sure you are working with a VoIP provider who manages the entire network and has control over traffic prioritization. In most cases you want to ensure voice traffic takes precedent over data or travels on a different network.   

Categorized under: Communications  Launching A Hedge Fund  Cloud Computing  Hedge Fund Operations  Infrastructure  Real Estate 



FCA to Financial Services Firms: Social Media Promotions Require #Ad Compliance

By Kaleigh Alessandro,
Thursday, August 7th, 2014

Hedge fund marketing and advertising has greatly evolved in the past few years, both with regulatory changes taking effect (in the US, the JOBS Act now allows public advertising) and new forms of media emerging, particularly social platforms such as Twitter, Facebook, LinkedIn and YouTube.Social Media Apps
 
In the UK this week, the Financial Conduct Authority (FCA) took steps to further regulate how financial services firms market to consumers by launching guidance consultation on social media usage. As evidenced by FCA Director of Supervision Clive Adamson, the consultation is intended to ensure financial promotions on social media platforms protect consumers and are disseminated in a way that fairly balances both benefits and risks.
 
“The FCA sees positive benefits from using social media but there has to be an element of compliance. Primarily, what firms do on social media must ensure customers are at the heart of their business. Our overall approach is that financial promotions, whether on social media or traditional media, should be fair, clear and not misleading. We have had extensive industry engagement on this issue and we believe our guidance is a sensible approach that doesn’t affect industry’s ability to innovate using new forms of media. We recognise social media are constantly evolving. We, therefore, welcome feedback to [the] consultation and look forward to continuing the discussion with industry."

Categorized under: Hedge Fund Regulation  Security  Hedge Fund Operations  Communications  Trends We're Seeing 



Cloud Computing: The Growing Competitive Advantage for Hedge Funds

By Katie Sloane,
Thursday, July 31st, 2014

The competition amongst firms in the financial services industry is ever burgeoning, and in order to achieve differentiation, it is imperative for firms to create and maintain robust, manageable, scalable and reliable technology infrastructures. Increasingly, we’re seeing more than just emerging managers opting for a cloud solution and established hedge funds and alternative investment firms shifting gears from traditional on-premise IT infrastructures to cloud services.Why the Billion Dollar Club is going Cloud
 
If you missed our webinar yesterday on Why the Billion Dollar Club is Going Cloud, read our recap below or scroll down to watch the full webinar replay, featuring Eze Castle’s Managing Directors Bob Guilbert and Vinod Paul.

The Business Case for the Cloud: Why Established Firms are Making the Move

Across the industry, established firms that have been in business for several years are moving away from physical infrastructures and adopting the cloud. Traditionally, investment firms would allocate substantial capital budgets to build on-premise Communication (Comm.) Rooms. These cost-intensive infrastructures can take months to build out, and specific expenses can vary depending on a firm’s unique needs. For example, at minimum, investment firms require file services, email capabilities, mobility services and remote connectivity, as well as disaster recovery and compliance. Beyond those, many firms also require systems and applications such as order management systems (OMS), customer relationship management tools (CRM), and portfolio management or accounting packages.

Categorized under: Cloud Computing  Disaster Recovery  Security  Hedge Fund Due Diligence  Hedge Fund Operations  Hedge Fund Regulation  Infrastructure  Communications  Outsourcing  Trends We're Seeing  Videos And Infographics 



BCP Testing Outside the Conference Room: Hello, Real World

By Matt Donahue,
Tuesday, July 22nd, 2014

Business Continuity StatisticWhen most people envision Business Continuity Planning (BCP) and testing, they conjure up images of conference rooms, hardcopy documents, projectors and key personnel. But the real world is a different reality.

In recent memory, there have been many situations that have disrupted businesses - be it by natural disaster or as a result of human interference. In either event, people need to be able to reestablish essential business functions, communicate, and make decisions as quickly and easily as possible. 

Although many organizations do an annual BCP review, the big question is whether they truly test the process, ease of accessibility, and the time it takes an organization/leadership group to go from unsure about the situation to confidently executing a thoughtful game plan.

What can make a considerable difference in terms of functionality and familiarity with the plans and recovery procedures is to practice -- not only verbally in the conference room setting, but also by taking time to troubleshoot and brainstorm to determine what works and what may need a second look. There is a lot that can be learned from being unplugged and “kicked” out of the conference room and asked to assume a role outside of the comfort zone. This can be done simply by taking away some of the accepted norms during a test. The following scenario illustrates issues that arise when the accepted norms are chipped away.

Categorized under: Business Continuity Planning  Disaster Recovery  Security  Hedge Fund Operations  Communications 



IT Security Dos and Don'ts to Live By

By Kaleigh Alessandro,
Tuesday, July 15th, 2014

We spend a lot of time educating our clients about security best practices and encouraging them to implement comprehensive security policies and procedures to mitigate risk and protect both the firm and its employees. And for good reason. Just today, New York Attorney General Eric Schneiderman released a report stating data breaches across the state more than tripled from 2006 to 2013 and cost businesses more than $1.37 billion last year alone.

While companywide policies should reflect long-range expectations and corporate best practices, they should also include tactical recommendations that employees can follow to ensure they are complying with the company’s overall risk strategy. In addition to providing employees with security best practices they should follow, don’t forget to also include a list of actions they should not. Here are just a few pieces of advice we regularly offer our investment firm clients:

DO:

  • Lock your computer and mobile phone(s) when you leave your desk and/or office

  • Use care when entering passwords in front of others

  • Create and maintain strong passwords and change them every 60-90 days (We recommend a combination of lowercase & uppercase letters and special characters)

Categorized under: Security  Cloud Computing  Disaster Recovery  Hedge Fund Operations  Infrastructure  Communications  Business Continuity Planning  Trends We're Seeing 



Persistent Automation for Fund Management: The New Reality, Part 2

By Branden Jones, Global Head of Marketing, Liquid Holdings Group,
Thursday, July 10th, 2014

Following is the second part in a two-part guest post from Branden Jones, Global Head of Marketing at Liquid Holdings Group, Inc. based in New York, NY. To read Part One, click here.

In this age of data management—this new state of cross-office functionality—operational models must be able to house, curate, and level-off information sets as they happen. Funds must not only actively manage a growing universe of market data but also tackle performance reporting, risk projections, disaster planning, and partitioned client data.

To successfully, and simultaneously, manage these activities, funds must have a data operational model that supports automation, where it makes sense:

  • Continuous processing, as an underlying system
  • Consistent normalization, across the board
  • Historical, since inception view
  • Defensive measures, to protect the operation

Processing   

Real-time, continuous actions are the new normal in today’s hedge fund reality. Funds are expected to understand, identify, and take advantage of opportunities as they occur. However, from a data standpoint “real-time” is only a point on a larger continuum of activity that occurs when a participant observes or captures a single event in time.  Continuous processing is the underlying current that accepts and captures, or rejects data inflows and outflows.  As pressures increase from both investors and regulators, managers should rely on continuous, automated services, processes, and technology to support their business, not only as a viewable segment, but constantly, throughout the lifespan of the fund.

Categorized under: Cloud Computing  Hedge Fund Operations  Infrastructure  Communications  Outsourcing  Software  Trends We're Seeing 



The New Reality: Persistent Automation for Fund Management

By Branden Jones, Global Head of Marketing, Liquid Holdings Group,
Tuesday, July 8th, 2014

Following is the first part in a two-part guest post from Branden Jones, Global Head of Marketing at Liquid Holdings Group, Inc. based in New York, NY.

This is the year for big data. Across industries, firms have unprecedented amounts of both public and private information sets – from user profiles and consumer habits to business outputs and proprietary algorithms. But access to data, or information at large, does not guarantee a valuable yield. Jonathan Shaw, managing editor of Harvard Magazine notes, “The [data] revolution lies in improved statistical and computational methods, not in the exponential growth of storage or even computational capacity.” Data is ubiquitous but not intrinsically valuable – it needs to be smartly processed, not just farmed.New Hedge Fund Reality - Liquid Holdings
 
For hedge funds, data processing is the quiet, invisible process that moves through the trade lifecycle—accessed from external entities like exchanges and brokers, modified and adjusted in execution, and at times, frozen in snapshots for an increasingly complex group of investors and regulators. More operational credibility and regulatory compliance is required than ever before, with increased scrutiny of the secret buy-side manna that goes along with it.
 
Smarter data management can be expensive and time-consuming as funds seek to keep up with regulatory, compliance, and transparency requirements while navigating through a sea of market opportunities. Good fund management starts and ends with precise, accurate data management. Truly taking advantage of data, and smarter computational methods, requires not only shedding the skin of outdated models, but categorically understanding a whole new data ecosystem, with new methods of processing, through selective automation and augmented observation. Once that new data ecosystem has been embraced, fund managers can spend their time mastering alpha generation and capital building initiatives.

Categorized under: Cloud Computing  Hedge Fund Operations  Infrastructure  Communications  Outsourcing  Software  Trends We're Seeing 



Tips for Tackling Your Financial Firm's Cybersecurity To-Do List

By Kaleigh Alessandro,
Thursday, June 26th, 2014

Cybersecurity WhitepaperWe continue to speak with clients and prospects on a regular basis on the topic of cybersecurity, and with the expectation that the SEC will start security exams sometime around September, it’s evident that firms are working diligently to answer the questionnaire and shore up internal practices.
 
To continue fostering education around this topic, we hosted two events last week dedicated to cybersecurity for hedge funds and investment firms. For your convenience, you can read a brief recap of some of the key topics discussed or scroll down to watch our full webinar replay.

Cybersecurity a Hot Topic on State & Federal Level

By now, we all know the SEC has taken steps to assure that hedge funds and investment advisers put security mechanisms and practices in place to protect against cyber threats. SEC Commissioner Luis Aguilar said there is “substantial risk that a cyber-attack could cause significant and wide-ranging market disruptions and investor harm.” Even beyond the federal level, some states are chiming in on the cybersecurity front. Earlier this month, Massachusetts and Illinois acknowledged that they were polling investment advisers about their security practices, and that based on responses, state regulations could be impacted.

Categorized under: Launching A Hedge Fund  Security  Hedge Fund Due Diligence  Hedge Fund Operations  Hedge Fund Regulation  Infrastructure  Communications  Outsourcing  Business Continuity Planning  Trends We're Seeing  Videos And Infographics 



Hedge Fund Transformation, Part 2: Cloud, Communication & Control

By Kaleigh Alessandro,
Thursday, June 5th, 2014

Hedge Fund OutsourcingIn Part 1 of our Transformation of IT seminar recap, we shared what our expert panel discussed relative to evaluating outsourced solutions and leveraging technology solutions. Our panel included Vinod Paul, Managing Director, and Steve Schoener, Vice President, at Eze Castle Integration, John Budzyna, Managing Director, and Dave Messier, Director, at KPMG, Timothy Ng, Managing Principal at Clearbrook Global Services, Jon Anderson, Global Head of OTC Derivatives at SS&C GlobeOp and Sheldon Rubin, COO/CFO/CCO at S Squared Technology LLC.
 
Read on to see what our speakers had to say about the considerations for outsourcing, typical transformation challenges and more. You can also read Part 1 of the event recap or listen to the complete audio replay.

Q: Whether it's technology, compliance or another area of the business, firms ultimately need to decide if they are going to manage these areas internally or outsource to an expert vendor. How does a hedge fund determine what is the right solution for them and whether to outsource or maintain their own systems and operations?

  • When considering internal operations vs. outsourcing, a firm must determine which option gives it the most control over the given process. The firm is not only considering outsourcing technology but also outsourcing control.

Categorized under: Hedge Fund Operations  Launching A Hedge Fund  Cloud Computing  Hedge Fund Regulation  Communications  Outsourcing  Trends We're Seeing 



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