The IT Checklist Cheat Sheet for Startup Financial Firms

As a new firm, your to-do list is going to be lengthy: formation structures, legal requirements, service provider evaluation, etc. On the technology front, there are also a lot of items to think through. Here’s a quick IT checklist cheat sheet that financial firms should keep handy during the startup planning process.
 
Also, for more technology tips, download the Essential Tech Guide to Starting a Hedge Fund
 
Networking & Infrastructure

• Define networking requirements

• Data circuits featuring N+1 redundancy

• Voice circuits

• Wireless and Local Area Network (LAN) capabilities

• Delivery

• Design network infrastructure: Cloud, On-Premise or Hybrid

• Workstations (PCs, monitors, laptops, servers)

• Peripherals (printers, phones, etc.)

• Delivery

Software/Applications

• Business applications

  • Email

  • File services

  • Storage

  • Other resources

• Evaluate front, middle and back office solutions

  • Trading and order management system

  • Accounting and/or portfolio management system

  • Market data and analytics tool(s)

  • Installation, maintenance and upgrades for all software

Business Resiliency & Security

• Disaster Recovery

• Business Continuity Plan, including written processes and procedures

• Security layers including anti-virus software, host-based and network intrusion detection systems, firewalls, encryption and application filters

• WISP (See Security Policies in Essential Tech Guide to Starting a Hedge Fund)

• Email Archiving solution to meet investor/legal requirements (e.g. Dodd-Frank)

Security Policies & Documentation

• Written Information Security Plan (WISP)

• Access Control Policy

• Acceptable Use Policy

• Incident Response Plan 

Telecommunications/Mobility

• Internet connectivity

• Voice systems (traditional or VoIP)

• FIX connectivity to brokers

• Mobile devices, BYOD plans

For more, read our latest whitepaper, The Essential Tech Guide to Starting a Hedge Fund, which is a resource for managers looking to launch a hedge fund and seeking guidance with regard to technology. Download the complete guide and discover the top tech must-haves for emerging managers.