Pico Achieves Outsourced Provider Audit Report (OSPAR) Attestation from The Association of Banks in Singapore
- 29.06.2021 02:00 pm
Pico, a leading provider of technology services for the financial markets community has attained Outsourced Provider Audit Report (OSPAR) attestation in Singapore, highlighting Pico’s strong record of robust governance and operational excellence.
Pico successfully completed an external audit, conducted by RSM, in accordance with criteria set out by the Association of Banks in Singapore (ABS), a non-profit organization representing the interests of the commercial and investment banking community. Compliance with ABS Outsourcing Guidelines assures financial institutions that Pico maintains an equivalent level of governance, rigor and processes required by the Monetary Authority of Singapore (MAS). This attestation builds on Pico’s strong technical excellence and adherence to internationally recognized industry leading standards, such as SOC2 and NIST, that further strengthens Pico’s commitment to providing trusted financial services solutions.
“Achieving OSPAR certification underscores Pico’s commitment to embedding excellence in our globally comprehensive technology solutions,” said Roland Hamann, Chief Technology Officer & Head of APAC at Pico. “The Association of Banks in Singapore plays a significant role in spearheading best banking practices. Our continued alignment to their guidelines, as well as our investments in operational and implementation excellence have been intrinsic to our success in Singapore and beyond.”
Since selecting Singapore as its Asia headquarters in 2017, Pico has enjoyed strong demand for its products and services from onshore clients as well as EU and US based trading firms expanding into the region. Last year the government of Singapore deemed Pico’s mission critical services as “essential”. Pico has also been at the forefront of developing Singapore’s world-leading FX hub, through infrastructure deployments that have supported major forex players as they rapidly established their market presence.
Fueling Pico’s growth has been the accelerated expansion of its comprehensive connectivity and venue presence across APAC serving electronic trading participants, all supported by local teams. Today, Pico is live in Hong Kong, Japan, the Republic of Korea, Taiwan, and China with imminent plans to add Australia to its APAC footprint.
Pico has built a financial services trading cloud infrastructure with mission critical exchange connectivity spanning 47 data centers traversing all key global market centers in the Americas, Europe and Asia. Its resilient proprietary network, PicoNetTM is a globally comprehensive, low-latency and fully redundant network interconnecting all major financial data centers around the world and access to major public cloud providers. The combination of Pico’s global infrastructure and data services with its analytics and machine intelligence solution Corvil Analytics, contributes to clients being equipped with cutting-edge solutions to meet ever-changing market conditions.