Industries · Financial services → Capital markets

Security that keeps pace with markets that move in milliseconds.

Trading and brokerage systems can’t be taken down to test, and a flaw in authentication or market-data integrity has consequences measured in the tens of millions. We test them with that reality in mind.

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The problem

What capital markets is up against.

01

Always-on, can’t pause

Trading systems can’t be taken offline to test, and a flaw on the execution path is measured in millions.

The problem

Always-on, can’t pause

You can’t schedule downtime on a market. That rules out the lazy version of testing and demands methods that prove security on live, latency-sensitive systems without pausing trading. We work inside that constraint: carefully, on the execution path first.

  • No maintenance window on a live market
  • Failure measured in millions, in milliseconds
  • Tested live, without pausing trading
Penetration testing →
02

Market-data integrity

The feeds and pipelines an attacker would corrupt to move a price.

The problem

Market-data integrity

You don’t have to steal to profit from a market. You can lie to it. Tampered market data or a corrupted feed can move a price and a position before anyone trusts their screens again. We test the integrity of the feeds and the pipelines that carry them, source to screen.

  • Feeds and pipelines that set prices
  • Integrity attacks, not just theft
  • Tested end to end, source to screen
Application & API security →
03

Vendor & feed exposure

Market-data vendors, brokers and clearing partners, each a path into latency-sensitive systems.

The problem

Vendor & feed exposure

Your trading stack is wired to vendors, brokers and clearing partners, and each connection is a door tested to their standard, not yours. When one of them has a bad day, it lands on your desk in milliseconds. We map those connections and the blast radius if one is breached.

  • Vendors, brokers, clearing partners
  • Doors tested to their standard, not yours
  • What a breached clearing partner reaches in milliseconds
Third-party risk →
04

Tool sprawl

Too many tools from too many vendors, each delivering unevenly. Spend up, clarity down.

The problem

Tool sprawl

A trading floor buys fast and rarely looks back. Each desk brings its own tools, the market-data and execution vendors ship agents of their own, and anything that adds latency to the order path gets quietly switched off. What’s left is a patchwork no one owns end to end, with gaps hiding between products that each assumed the other had it covered. We start by testing what’s actually running, latency budget and all.

  • Tools bought per desk, never integrated
  • Security that adds latency gets turned off
  • Gaps hiding between products
Spend nothing →

How an attacker gets in

Trading environments are sprawling and interconnected, so the ways in are many: a phished trader, a market-data feed, a client-facing FIX gateway, a prime-broker link, a stolen credential. Most still converge on the same handful of prizes: orders, market data, settlement, and the algos themselves.

EntryFootholdPivotEscalateObjectivePhishingtrader & opsStolen credsMFA fatigueRemote accessVPN · CitrixMarket-data vendorFIX feedFix gatewayclient-facingPrime-broker linkcounterpartyTrader desktopOMS / EMS clientWeb / fix DMZperimeterClient portalbrokerage appLateral movementhost to hostColo / cross-connectlow-latency netCloud / risk analyticsSaaS · IAMDomain adminActive DirectoryOMS / EMS adminorder managementOrder executionplace · cancel · spoofMarket datafeed integrityClearing / settlementmove positionsAlgo / trading logictamper strategythe route taken this runother possible routesloop back to go again

What you get: a ranked shortlist of the fixes that close the most routes to execution, market data, settlement and your algos first, proven against live systems without a minute of downtime.

Read the brokerage engagement →
How we help

Here’s how we help capital markets.

The work that fits your stack, your threats, and the regulators you answer to.

Penetration testing

Find the auth and config flaws before they’re exploited at scale.

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Application & API security

The trading and brokerage logic scanners can’t reason about.

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Red team engagements

Threat-led testing the way DORA expects it.

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Incenter, continuous

Test as the environment changes, not once a year.

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Regulation by regulation

The rules you answer to, and how we test for each.

SEC and FINRA expect demonstrable controls and incident readiness; DORA expects threat-led testing. We deliver engagements built for live, high-stakes trading environments.

StandardWhat it expectsHow we test it
SEC
For SCI entities, penetration testing at least annually; Reg S-P governs customer data (Reg SCI).
Annual pen testing of trading and market-data systems, built for live environments.
FINRA
A risk-based cybersecurity program and tested resilience (incl. Rule 4370).
Testing and attack simulation aligned to FINRA expectations.
DORA
Threat-led penetration testing and resilience testing for significant entities (Art 24–27).
Intelligence-led red teaming for high-stakes trading environments.
MiFID II
Resilient, tested systems for algorithmic trading (RTS 6).
Security and resilience testing of latency-sensitive systems, without taking them down.
Compliance & risk alignment →
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Built for capital markets. Tested for attackers.

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A specialist who knows the capital markets threat model and the regime around it.
Continuous platform
See Incenter
Continuous testing across your whole surface, kept current between audits.