A comprehensive trading solution that integrates trade capture, processing, and administration while supporting complex workflows and enhancing operational efficiency.
Platforms that manage the post-trade lifecycle, including confirmation, matching, clearing, and settlement of transactions across various asset classes and markets.
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Multi-asset support Ability to capture trades across different asset classes (equities, bonds, derivatives, FX, etc.). |
ION Trading advertises multi-asset support for equities, bonds, FX, and derivatives on their website and product materials. | |
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Real-time capture Trades are captured instantly as they occur, minimizing lag. |
Marketing content highlights real-time trade capture and processing. | |
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Manual trade entry Ability for users to enter trades manually if needed. |
Manual trade entry is described in product user guides and documentation to support exceptions and non-standard trades. | |
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Bulk upload capability Support for uploading multiple trade records at once (e.g., via CSV/XML). |
Bulk upload (CSV/XML) is available for trade imports, as per product sheets and technical specifications. | |
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Trade edit/audit trail Tracks all edits/changes made to captured trades with timestamps and user information. |
Trade edit/audit trails are standard in ION Trading's post-trade processing modules, confirmed by documentation. | |
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Duplicate trade detection System automatically detects and flags duplicate trade entries. |
Duplicate trade detection is cited as a key validation control to enhance data integrity. | |
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Custom fields User can define and capture additional trade details via custom fields. |
User-defined/custom fields are supported for trade capture, based on product technical materials. | |
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Trade status tracking Indicates the current status (captured, confirmed, settled, etc.) for each trade. |
Trade status tracking is a core part of workflow design and supported in user interface. | |
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Error/exception logs Records of any failed captures or data exceptions. |
Error/exception logs are available for troubleshooting and compliance—standard in system architecture. | |
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API trade integration Ability to capture trades via direct integration with execution platforms or OMS. |
API integration for trade capture (including FIX) is clearly listed in integration capabilities. |
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Automated trade matching Auto-matching of trade details with counterparties to reduce manual intervention. |
Automated trade matching is described in product overviews and whitepapers for confirmation workflows. | |
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Manual override/adjustment Users can manually override or adjust match results as needed. |
Manual override for trade matching results is mentioned as part of exception handling processes. | |
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SWIFT messaging integration System supports or generates SWIFT confirmation and affirmation messages. |
SWIFT messaging integration (for confirmations) is documented in technical guides. | |
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CTM (Central Trade Manager) Connectivity Integration with Omgeo CTM or similar for central matching. |
Integration with Omgeo CTM and central matching is a listed feature in connectivity documentation. | |
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Exception management workflow Dedicated workflows for resolving unmatched or disputed trades. |
Exception management workflows are described in detail for unmatched/disputed trades. | |
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STP (Straight-Through Processing) rate Percentage of trades processed without manual intervention. |
No information available | |
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Matching latency Average time taken to complete trade matching. |
No information available | |
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Counterparty notifications Automated notifications sent to counterparties on match status. |
Counterparty notifications are supported as part of trade lifecycle management. | |
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Multi-currency support Handles matching for trades across various currencies. |
Multi-currency support is described as standard, due to the global nature of ION's clients. | |
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Custom matching rules Admin users can define and edit rules for identifying matches. |
Custom matching rules and configurable workflows are described in the admin settings modules. |
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Central Counterparty (CCP) integration Ability to connect to CCPs for clearing eligible trades. |
CCP connectivity is included for listed derivatives and eligible trades (see product clearing documentation). | |
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Trade netting capability Netting of trades by counterparty, asset, or currency before settlement. |
Trade netting (by asset, counterparty, etc.) is a key operational efficiency highlighted by ION. | |
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Collateral management Tools for tracking and managing required collateral for cleared trades. |
Collateral management tools are available as part of the clearing module, per solution data sheets. | |
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Clearing status tracking Monitor each trade’s progress through the clearing cycle. |
Clearing status tracking is fundamental to the platform and visible in user dashboards. | |
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Trade allocation to funds/accounts Allocate block trades to specific funds or client accounts. |
Block trade allocation to funds/accounts is cited as a feature in workflow descriptions. | |
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Clearing member management Identify and administer relationships with different clearing members. |
Clearing member management is part of relationship/party data structures. | |
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Real-time clearing updates Receive immediate updates from CCPs on clearing status. |
Real-time clearing updates from CCPs are supported (e.g., via SWIFT or other protocols). | |
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Unsupported asset tracking Flag trades/assets not eligible for central clearing. |
Unsupported asset tracking is supported for regulatory compliance and reporting. | |
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Automated margin calls Generate and track margin call notifications based on clearing requirements. |
Automated margin calls are available in the margin/collateral workflows. | |
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Risk checks pre-clearing Run risk/capital requirement checks prior to clearing. |
Risk checks pre-clearing are described as best-practice controls in documentation. |
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DVP/RVP support Supports Delivery vs. Payment and Receipt vs. Payment settlement types. |
DVP/RVP settlement support is referenced as a clearing/settlement module feature. | |
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Multi-market settlement Settlement processing across various geographies and market infrastructures. |
Multi-market settlement (global market infrastructure support) is a selling point for ION Trading. | |
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Settlement cycle configuration Ability to set T+2, T+1, T+0, or custom settlement periods. |
T+2, T+1, and custom settlement cycles are configurable for clients. | |
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Custodian integration Direct interfaces for communicating settlement instructions to custodians. |
Custodian integration is provided to streamline settlement instructions. | |
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Auto-generation of settlement instructions System generates settlement instructions automatically based on trade data. |
Automatic generation of settlement instruction is a standard feature in the settlement module. | |
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Status tracking and reconciliation Tracks each settlement’s status and facilitates reconciliation. |
Status tracking and reconciliation for settlements is documented as part of standard workflows. | |
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Settlement exception handling Workflows to identify and resolve fails, delays, or mismatches in settlement. |
Settlement exception handling workflows are present for fails and incomplete settlements. | |
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Affirmation workflows Built-in processes for trade affirmation by counterparties or custodians. |
Affirmation workflows for trades are configurable, with automated or manual options. | |
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Partial settlements support Ability to process partial settlements when full allocation/cash is not available. |
Partial settlements are supported for cases where full funds/cash not available. | |
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Settlement fails reporting Monitoring and reporting of failed/delayed settlements. |
Settlement fails reporting is available to monitor and resolve operational risks. |
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Trade-to-custodian reconciliation Compare internal trades with those reported by the custodian. |
Trade-to-custodian reconciliation is a key controls feature for fund managers. | |
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Cash reconciliation Automated matching of expected vs. actual cash movements. |
Cash reconciliation is supported via automated workflows. | |
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Position reconciliation Reconcile end-of-day positions across systems. |
End-of-day position reconciliation is feature of the core post-trade module. | |
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Automated breaks identification System flags and reports breaks/discrepancies instantly. |
Automated breaks identification is documented as part of reconciliation modules. | |
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Exception clearing workflow Dedicated workflows for resolving reconciliation breaks. |
Exception clearing workflow for reconciliation breaks is described in technical whitepapers. | |
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Multi-frequency support Can perform reconciliations intra-day, daily, weekly, or custom frequency. |
Multi-frequency reconciliation supported (eg. intra-day, daily). | |
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Data normalization tools Standardizes data from multiple sources/formats to enable matching. |
Data normalization for reconciliation is standard across integration offerings. | |
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Audit logging Detailed logging of all reconciliation and exception resolution activities. |
Audit logging for all reconciliation actions is included as a compliance/audit feature. | |
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Automated notifications Alerts are sent out when breaks/exceptions are detected. |
Automated notifications for reconciliation breaks/exceptions cited in operational documentation. | |
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Reconciliation throughput Volume of trades/cash/items reconciled per hour. |
No information available |
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Corporate actions feed integration Direct connections to data providers for corporate actions data. |
No information available | |
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Event type coverage Supported corporate action event types (dividend, splits, mergers, etc.). |
No information available | |
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Automated entitlement calculation System calculates entitlements (cash/shares) for each account/fund. |
No information available | |
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Notification workflows Automatically notifies users and clients of impending actions. |
No information available | |
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Instruction capture for voluntary events Enables capture and processing of user elections for voluntary events. |
No information available | |
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Exception tracking Automatically detects and flags exceptions in event processing. |
No information available | |
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Multi-account allocation Allocates entitlements accurately across multiple accounts/funds. |
No information available | |
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Historical event tracking Maintains a log of past corporate actions and results. |
No information available | |
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Ad hoc report generation Ability to generate reports on corporate actions, entitlements, and positions. |
No information available | |
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Custodian liaison tools Facilitates communication of election instructions to custodians. |
No information available |
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Regulatory reporting modules Built-in modules for regulatory reports (e.g. MiFID II, EMIR, SFTR, Dodd-Frank). |
Regulatory reporting modules for MiFID, EMIR, SFTR, and Dodd-Frank are mentioned in product documentation. | |
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Rule-based compliance checks Automated checks against firm and regulatory trade limits and restrictions. |
Rule-based compliance checks configurable for both firm and regulatory requirements. | |
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Audit trails Comprehensive logging of activities for compliance review. |
Comprehensive audit trails described as essential for compliance, referenced in technical documentation. | |
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Data retention policies Configurable settings for retaining data for regulatory time periods. |
Data retention policy configuration supported for regulatory compliance. | |
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User access controls Granular security roles and permissioning for users. |
User access control and granular permissioning are available as part of security settings. | |
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Automated error notifications Flags and alerts for potential breaches or errors. |
Automated error notifications for trade/regulatory breaches are part of the compliance workflows. | |
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Exception-based reporting Supports generating compliance reports based on trade exceptions. |
Exception-based reporting supported through advanced reporting and monitoring modules. | |
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Scheduled regulatory reporting System can schedule and send regulatory reports automatically. |
Scheduled regulatory reporting is available to comply with time-based obligations. | |
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Integration with KYC/AML tools Interoperability with Know-Your-Customer and Anti-Money-Laundering solutions. |
Integration with KYC/AML tools is cited to ensure full compliance lifecycle management. | |
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Secure data export Exports data in a format and method compliant with privacy laws. |
Secure data export is a priority as per the security and compliance documentation. |
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Open APIs Availability of secure APIs for two-way connectivity with external systems. |
Open APIs for integration are emphasized in product connectivity overviews. | |
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FIX/FPML message support Ability to consume and transmit messages in industry-standard protocols. |
FIX/FPML messaging is supported for interoperability with market participants. | |
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OMS/PMS integration Connects directly to Order Management and Portfolio Management Systems. |
Direct integration with OMS/PMS is available as part of multi-platform support. | |
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Custodian/broker connectivity Out-of-the-box interfaces for leading custodians and brokers. |
Connectivity with custodians and brokers is a selling point for ION Trading. | |
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Batch and real-time interface options System can function in batch or real-time mode for data transfer. |
Batch and real-time interface support for data flows is explicitly listed on product documentation. | |
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Message transformation/mapping tools Customizable adapters to transform data between formats. |
Message transformation/mapping tools are available for custom integrations. | |
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Market data feed integration Connectivity for real-time or EOD reference and market pricing data. |
Market data feed integration (e.g., pricing, reference data) is standard. | |
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Cloud deployment options Support for deployment on public/private cloud environments. |
Cloud deployment is referenced as an option for new and existing clients. | |
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High throughput capacity Volume of transactions processed per minute/hour. |
No information available | |
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File import/export support Support for standardized and custom file formats for data exchange. |
File import/export (CSV, XML, custom formats) is well documented and widely used by clients. |
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Concurrent user support Maximum number of users supported in parallel. |
No information available | |
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Peak throughput Maximum number of transactions processed per second. |
No information available | |
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Latency Average end-to-end processing time of single trade. |
No information available | |
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Auto-scaling System can increase resources automatically to accommodate higher loads. |
Auto-scaling and resource management are referenced as part of cloud and hosted offerings. | |
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Disaster recovery (RTO/RPO) System's recovery time objective (RTO) and recovery point objective (RPO). |
No information available | |
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High availability Redundancy for 24/7 uptime and minimal service interruptions. |
High availability and redundancy for critical trading infrastructure is documented. | |
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Monitoring/alerting for bottlenecks Real-time monitoring and alerts when exceeding resource thresholds. |
Monitoring and alerting tools are built in for both system and operational bottlenecks. | |
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Historical performance logging Stores historical performance metrics for audit/troubleshooting. |
Historical logging is supported for compliance and troubleshooting. | |
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Hot upgrade capability Can upgrade software without taking the system offline. |
No information available | |
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Environment isolation Supports separation of production, test, and development environments. |
Environment isolation for production, test, and development (multi-tier support) is present. |
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Customizable dashboards Users can configure dashboards to monitor relevant KPIs and statuses. |
Customizable dashboards are referenced in UI/UX overviews. | |
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Advanced search/filtering Robust search and filtering options for trade and settlement records. |
Advanced search and filtering tools are in the client portal and user documentation. | |
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Ad hoc reporting Users can build and generate custom reports on demand. |
Ad hoc/custom reporting can be configured by users. | |
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Scheduled/automated reports System can schedule and send reports regularly via email or portal. |
Scheduled/automated reports can be sent to users or exported to external systems. | |
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Drill-down analytics Allows navigation from summary to detailed trade information. |
Drill-down analytics are supported through interactive dashboards. | |
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Real-time notifications and alerts Prompts users immediately about errors, matches, exceptions, or deadlines. |
Real-time notifications and alerts for trade errors, matches, and deadlines are standard. | |
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Role-based UI customization User interface adapts and shows relevant modules based on role. |
Role-based UI customization supports different modules by user profile/role. | |
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Multi-language support User interface available in multiple languages. |
No information available | |
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Mobile/web accessibility Platform can be accessed from web browsers or mobile devices. |
Mobile and web-based access is described in solution overview. | |
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Export to standard formats Can output data/reports to CSV, Excel, PDF, etc. |
Support for exporting data and reports to CSV, Excel, PDF formats is available. |
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End-to-end data encryption Encrypts data both at rest and in transit. |
End-to-end encryption is described in security whitepapers and audit results. | |
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Multi-factor authentication Requires more than one method of authentication for login. |
Multi-factor authentication is supported for platform login security. | |
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Granular access control Permissions assigned at user, group, or function level. |
Granular access control and permissioning is available per the security model. | |
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Regular security audits System is subject to periodic internal/external security reviews. |
Regular security audits and certifications (e.g., SOC2, ISO 27001) are cited by ION. | |
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Role-based data masking Sensitive fields are masked based on user permissions. |
Role-based data masking for sensitive fields is described for compliance. | |
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Automated session timeout Users are logged out automatically after a period of inactivity. |
Session timeouts and automated logouts are standard security controls. | |
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Intrusion detection/prevention integration System interfaces with existing IDP/IDS solutions. |
Integration with intrusion detection/prevention (IDS/IDP) solutions is described in infrastructure security. | |
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User activity monitoring Real-time logging and analysis of user activity. |
User activity monitoring and audit trails are described in security documentation. | |
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Patch management Regular updates to address new vulnerabilities. |
Patch management (including regular updates for vulnerabilities) is part of service delivery model. | |
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Incident response protocols Predefined workflows for suspected or actual breaches. |
Incident response protocols are documented and cited as part of compliance standards. |
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