Jun 01, 2012
Cyprus based financial technology company, cTrader Ltd. (also known as Spotware) has announced that it has received a final report on its ISAE 3402 Type I audit, the best-practice standards report or assurance reporting on controls at a service organization. With an unerring focus on safety and quality assurance, which is paramount as a growing FinTech company, cTrader has completed an audit of its controls, putting in place mature internal controls and measures to further enhance its position as the leader in robust FX STP, ECN solutions. Andrey Pavlov, CEO, cTrader Ltd, said “We’re delighted to have achieved this recognition of the highest-standard controls we implement to safeguard our clients’ data for the range of Spotware products. This serves to further strengthen our reputation for secure operational practice, and is another example of cTrader’s commitment to respect the trust placed in us by our clients.” The ISAE (formerly SAS 70) Type I report is granted to companies who demonstrate a level of “reasonable assurance” over the control integrity of the processing environment and embeds a strong control culture. The report describes and formalizes the permanent control processes, their objectives and the procedures used when processing operations. Achieved under the guidance of Deloitte, ISAE 3402 Type I also offers an opinion that system controls are suitably designed and implemented.