Matrix Applications, LLC (“Matrix”) has successfully completed a System and Organization Control (SOC) 2 Type II audit. The audit was performed by Schellman & Company for its TradeBlazer Collateral Management System and Managed Services. This attestation demonstrates the company’s ongoing commitment to the highest standard of data protection and security.
Speaking on the achievement, Uday Kulkarni, Compliance Officer at Matrix Applications said, “Our SOC 2 compliance is a testament to our relentless commitment to data security. It highlights our dedication to safeguarding clients’ information with stringent controls. Our clients can rest assured that their data's confidentiality, integrity, and availability are paramount. Our team remains vigilant, ensuring compliance with the highest industry standards to protect our clients’ trust and privacy.”
Developed by the American Institute of Certified Public Accountants (AICPA), the SOC 2 information security standard is an audit report on the examination of controls relevant to the trust services criteria categories covering security, availability, processing integrity, confidentiality and privacy. A SOC 2 Type II report describes a service organization’s systems and whether the controls they have in place to satisfy the SOC criteria are operating effectively over an agreed-upon observation period.
“We are committed to safeguarding the data of Matrix clients, especially given the increasingly critical role of information security in every aspect of our service delivery. Our diligence and forward-thinking approach will not stop here. Matrix will continue to proactively investigate and pursue new ways to upkeep our high security standards,” added Charles Corbin, Senior Systems Engineer at Matrix Applications.
The SOC 2 compliance audit and examination were done by a leading independent third-party auditing firm in accordance with the standards established by the AICPA. This report is a testament to the design and operating effectiveness of controls.
Emmaline Chen, Compliance Analyst at Matrix Applications adds, "Continuing this certification shows Matrix Application's consistent work to keep up with industry standards in data security. We have gained the trust of our clients and partners by taking precautions and maintaining data security as one of our top priorities." 
TradeBlazer is a front, middle and back-office solution providing end-to-end processing of fixed income and equity securities lending transactions. Straight-through-processing from brokers down to clearing banks and FICC for novation and netting with accounting journal entries into a sub-ledger, TradeBlazer provides seamless processing from point of entry through settlement. The system helps track counterparty credit exposure, risk, and fails, while acting as a “books and record” system for regulatory requirements.
TradeBlazer integrates fixed income trading, collateral management and settlement functionality for banks, broker-dealers, funds and asset managers and provides best-in-class, extensive support of fixed income, repo, and MBS transactions. TradeBlazer’s integrated functions cover accounting, credit, operations, risk management and trading modules, coupled with real-time clearance functions. Extensive online and batch reporting simplifies the Operation team’s responsibilities.
Matrix Applications offers an array of trade support functions, coupled with our fixed income systems, to assist you with your back-office operations. Gain greater command and control over your trade flows and position management by leveraging Matrix’s Managed Services for the back-office. Our comprehensive, customizable and modular systems – along with our Managed Services – augments your team’s capabilities.
Managed Services addresses the challenges of operational inefficiencies and reduces associated staffing costs. With Matrix focusing on the daily details, your team is freed up to focus on higher-value activities.
Matrix Applications is a New York-based fintech service bureau that offers a suite of collateral management, margining and clearing systems for institutional fixed income trading and equities securities lending. We are a team of capital markets and systems professionals delivering financial technology solutions to institutional firms since 2000. We work hands-on with our clients to identify an optimal mix of services to best fit their needs, from systems to back-office operations assistance. With in-house and offshore developers, we provide our clients with the right solution at the right price. Comprised of industry veterans and financial professionals, we leverage our extensive technical experience, a deep network across the finance industry and a team of ops, regulatory and legal gurus to deliver bespoke managed services for firms big and small.
