DASH Regulatory Technologies – the regtech-focused affiliate of U.S. options technology and execution services provider DASH Financial Technologies – today announced that its SaaS-based DASH 360R platform has received its SOC 1 Type II attestation. 

The SOC 1 Type II (System and Organization Controls) audit of DASH 360R was completed by a “Big Four” global accounting firm under the attestation standards established by the American Institute of Certified Public Accountants (AICPA).  

DASH 360R is the next-generation of the industry-leading LDB platform, which scores of broker-dealers depend on for U.S. regulatory capital calculation and reporting compliance. DASH Regulatory Technologies undertook the SOC 1 Type II process to specifically address the needs of DASH 360R customers and their auditors who rely on the effectiveness of DASH 360R controls as they review the user entity’s financial reporting. The assessment covers the web-based 360R system as well as the information technology general controls over the following calculation modules that generate key inputs to various regulatory reports: Risk Based Haircut, Fixed Income Haircut, Repurchase/Reverse Repurchase, Stock Borrow/Loan, Risk Based Margin, Option Margin Optimizer, Security Allocation Information Engine and the Supplemental Inventory Schedule System.

In the U.S., broker-dealers are required by the SEC and FINRA to maintain specified levels of capital, and to be able to demonstrate moment-to-moment compliance with the SEC Net Capital Rule. In order to do so, brokers must have the ability to calculate, on an intra-day basis, their capital charges, which can be an extremely complex process. DASH 360R completely automates the calculation and reporting process around these regulations as well as any firm-specific requirements, easing one of the most significant back-office operational challenges faced by brokers and clearing firms.

Commenting on the SOC 1 Type II certification, Venu Palaparthi, DASH Regulatory Technologies’ Managing Director, said: “Following the acquisition of LDB Consulting in 2017, DASH made a strong commitment to updating and modernizing the LDB system. In furtherance of that objective, we implemented the cloud-enabled DASH 360R version, which can be accessed via the web. During 2020, the pandemic-induced remote work environment provided an impetus for adoption of the 360R suite. Simultaneously, we doubled down on our investment in DASH 360R by embarking on a SOC 1 Type II independent attestation. We are confident that the in-depth SOC 1 Type II attestation provides additional comfort to our users regarding the effectiveness of our controls, quality of our calculations and the security of user information within 360R and builds on the trust that our customers place in the calculations.”