Euroclear, the world's largest provider of domestic and cross-border settlement and related services for bond, equity, derivatives and fund transactions, has chosen BT's Managed Security Solutions, powered by BT Counterpane, to provide security monitoring and management services.
BT's Managed Security solutions offer an intelligent process and best-of-breed technologies to protect companies' critical information assets and infrastructure. This is an area of importance to BT as companies seek to outsource the management of their security infrastructure to counter increasingly sophisticated security threats.
Initially, BT will provide security monitoring capabilities to Euroclear that will allow real-time monitoring, correlation and analysis of Euroclear's security infrastructure and critical applications. This means Euroclear can instantly respond to and mitigate against a wide range of threats to computers, applications, and networks that arise from inside and outside the organization. These threats, which might be as seemingly benign as an employee unknowingly using an infected USB drive, or as overtly malicious as a botnet attempting to commandeer an entire network, have the potential to result in lost productivity, data theft, and brand damage.
Following the introduction of BT's security monitoring solution, Euroclear will be better able to see at a glance how its security infrastructure is performing. BT customers are able to access standard daily, monthly and weekly reports as well as generate fully customized reports through BT's web portal.
Wim Claeys, Executive Director, Euroclear, said: "Managing security systems requires specialist skills, thus we look forward to broadening our relationship with BT in this respect. Safeguarding client transaction processing, data and securities holdings, is a high priority for us; we are confident that BT's Managed Security Systems will move us even closer to zero-tolerance levels."
Luis Alvarez, President of EMEA and Latin America, BT Global Services, said: "We have greater experience with more enterprise, government and proprietary networks than any other managed security solutions provider and our appointment by Euroclear further strengthens our business case for BT's Managed Security Solutions, powered by BT Counterpane. Euroclear was particularly impressed by our market knowledge, consistency of approach and ability to cost-effectively improve various aspects of their security services."
The appointment of BT by Euroclear follows a competitive tender process leading to the selection of two companies, and with the initial term of the contract being three years.