ClearTrust SecureControl Adds Direct XML Support to Secure t+1 Financial Transactions.Business/Technology Editors SAN FRANCISCO--(BUSINESS WIRE)--Aug. 16, 2000 Securant Technologies Delivers Straight Through Processing In financial technology, the ability to process a stock transaction by computer from beginning to end without manual intervention at any of the stages. for Authorizing Server to Server XML-Based Equity Transactions Securant Technologies, the access management company that secures e-business, today announced that its award-winning ClearTrust SecureControl product will support and secure XML-based transactions required for next day settlement of equity transactions known as Trade Date + 1, or t+1. The Securities and Exchange Commission is urging financial firms to implement a t+1 settlement cycle in 2002 in order to reduce the risk in stock and equities trades, free up capital, and decrease transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). . The investment community currently has three days to complete financial trades. By providing Straight Through Processing (STP STP or standard temperature and pressure, standard conditions for measurement of the properties of matter. The standard temperature is the freezing point of pure water, 0°C; or 273.15°K;. ) of server to server security and authorization requests for XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. equity transactions, ClearTrust SecureControl will enable financial institutions to reduce settlement process redundancies and automatically verify, authorize, audit and notarize no·ta·rize tr.v. no·ta·rized, no·ta·riz·ing, no·ta·riz·es To certify or attest to (the validity of a signature on a document, for example) as a notary public. individual transactions. "To achieve a t+1 settlement cycle, the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry must leverage the Internet to streamline settlement operations and automate a complex series of transactions," said Bob Lonadier, Director, Security Strategies, Hurwitz Group. "Products like ClearTrust SecureControl, which leverage XML to authenticate the identity of a user in the settlement chain before he or she sends a message, automate the authorization process and will help the financial services industry move towards a t+1 settlement cycle." ClearTrust SecureControl delivers an integrated solution that unifies transaction security and user access under one policy management infrastructure for protecting all electronic transactions including Web, wireless and XML. With direct support for XML, and industry specific versions of XML, ClearTrust SecureControl enables enterprises to verify, authorize, audit and notarize financial transactions and prevent fraud. ClearTrust SecureControl provides a single point of control for managing and enforcing security policies that govern user authentication See authentication. , authorization and single sign-on An identification system that lets users log into multiple Web sites on the Internet with one username and password. Single sign-on systems are also used within an enterprise, enabling users to access all authorized resources in the local network using the same username and password. for all XML-based applications and resources running in an enterprise or service provider environment. "XML and industry specific XML standards such as FinXML for t+1 settlements, are emerging as the cornerstone of B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business commerce," said Eric Olden old·en adj. Of, relating to, or belonging to time long past; old or ancient: olden days. [Middle English : old, old; see old + -en, adj. , chief technology officer, Securant Technologies. "By providing direct support for XML-based transactions, ClearTrust SecureControl allows enterprises and service providers to bring secure new applications and services to market faster, manage risk, reduce fraud and support non-repudiation." ClearTrust SecureControl delivers a centralized, unified, and automated infrastructure for securing XML-based transactions including: -- Single sign-on across multi-domains for XML-based transactions that span multiple applications, resources and Web sites within one company, affiliate sites, between trading partners, and in Application Service Provider (ASP) environments -- Smart Rules that allow customers to use natural language business rules to centralize and automate the authorization of XML transactions based on a machine's profile and content in the XML message -- Delegated administration Delegated administration describes the decentralization of role-based-access-control systems. Many enterprises use a centralized model of access control. For large organizations, this model scales poorly and IT teams become burdened with menial role-change requests. using Virtual Business Units that allows time-consuming user administration workloads to be distributed to suppliers and customers -- Fraud/threat detection that monitors user and machine behavior at the application level for violations of business rules and takes countermeasures to proactively prevent application misuse and fraud Availability ClearTrust SecureControl with support for XML servers will be available in the second half of 2000. About Securant Technologies Securant Technologies, the access management company that secures e-business, is a leading developer of Internet security ''This article or section is being rewritten at Internet security is the process of protecting data and privacy of devices connected to internet from information robbery, hacking, malware infection and unwanted software. software that provides a secure infrastructure for controlling user access to Web-based resources including applications, content and transactions. The company's flagship product, ClearTrust SecureControl, uses business rules to centralize, unify and automate every facet of access management including user authentication, authorization, access control, single sign-on, delegated administration, application-level threat detection, policy assessment, and auditing. Securant customers include Chase Hambrecht & Quist, First Union, Lehman Brothers, and Thomson Financial Thomson Financial A major provider of information, analytical tools, and consulting services to the financial community. The firm, a division of Thomson Corporation, is best known to investors for its First Call segment, which publishes consensus earnings . The company's partners include Baltimore Technologies, BEA Systems, Inc., Check Point, Entrust Technologies, Netscape Communications, Oracle, Sun Microsystems, Sybase and Vignette. Securant is privately held and headquartered in San Francisco. To contact Securant call 415.315.1500, visit us on the Web at http://www.securant.com, or write to info@securant.com. Unified Access Management, 24/7 Security, ClearTrust, ClearTrust SecureControl, ClearTrust Virtual Business Units and SpeedSecure are trademarks of Securant Technologies Inc. Product names mentioned herein may be trademarks and/or registered trademarks of their respective companies. |
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