TruSight Completes Comprehensive Risk Assessment of Euronext

  • Data , Risk Management
  • 11.01.2022 04:15 pm

TruSight, the financial industry’s leading provider of validated third-party risk data, announced today that it has completed a comprehensive risk assessment of the leading pan-European market infrastructure, Euronext (ENX.PA). The assessment provides high-quality, fully validated data on Euronext based on a standardized, industry-backed control assessment methodology designed to meet the rigorous requirements of financial institutions.

The TruSight assessment methodology covers 27 diversified control domains, including information and cybersecurity, privacy, business resiliency, and other operational risk areas, replacing duplicative questionnaires and response processes with robust test steps and attribute validation derived from collaboration among industry leaders. TruSight’s comprehensive risk evaluation of Euronext included structured inquiries, policy and procedure inspection, evidence-based validation, and dynamic control observations and validation. In addition to the Euronext assessment, TruSight assessed the applicable data center providers to validate that the resiliency requirements of a stock exchange are enabled. An in-depth data center assessment was conducted at the target production and backup sites to fully cover the control set.

“Obtaining an external validation of our risk controls is an important part of our strategy as the leading market infrastructure in Europe, and as a reference in terms of operational excellence,” said Georges Lauchard, chief operating officer of Euronext. “We chose TruSight as its methodology has become the global standard for assessing third-party risk.”

The TruSight utility model, in which assessments are performed once and shared by many, reduces the time and effort spent by both financial services institutions and third parties by eliminating the need for repetitive and duplicative questionnaires. The TruSight assessment methodology also leads to more consistent, higher-quality data, quicker third-party onboarding, and better allocation of resources to managing risk.

“Euronext recognizes the value of an industry-standard third-party risk utility and has taken proactive steps to engage with TruSight to ensure it meets the most stringent requirements of the financial services market,” said Jonathan Pressman, CEO of TruSight. “Completing the TruSight assessment enables Euronext to enhance its risk assurance and achieve significant efficiency gains for the market industry.”

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