DTCC Launches Cyber Threat Sharing Platform

The Depository Trust and Clearing Corporation (DTCC) has joined with tech firm FS-ISAC to launch the financial industry’s first ever cyber-threat sharing platform.
By Joe Parsons(2147488729)
The Depository Trust and Clearing Corporation (DTCC) has joined with tech firm FS-ISAC to launch the financial industry’s first ever cyber-threat sharing platform.

The launch of the platform comes weeks after a DTCC survey showed cyber security is now the principal concern for the financial services industry, with 84% of respondents saying it is one of their top five concerns.

With the Financial Services Information Sharing and Analysis Center (FS-ISAC) the joint venture, named Soltra Edge, is a software solution designed to collect massive amounts of cyber threat intelligence, convert it into a standardized language and enable users to take immediate action.

“Soltra Edge will provide companies with stronger safeguards to protect against cyber-attacks. In the current environment, cyber attackers can use a few hundred dollars’ worth of software and the power of cloud computing to launch attacks that require exponential resources to defend and mitigate,” says Mark Clancy, CEO of Soltra and chief information and security officer, DTCC.

The joint venture is also working with private sector vendors to develop state of the art security solutions that include threat intelligence feeds, security information and event management systems, firewalls, and anti-virus software.

“The discussion of cyber security has moved out of the server room and into the board room. Defending against today’s cyber threats and attacks often takes more than any one organization, it takes an industry working together,” adds Kelly King, chairman and CEO, BB&T Corporation.

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