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The Depository Trust & Clearing Corporation Selects Secure Software's Application Security Suite

Posted on: Monday, 25 July 2005, 09:00 CDT

Secure Software, the authority in automated application security products and process technology, today announced that The Depository Trust & Clearing Corporation (DTCC) has selected the CodeAssure product suite to identify and correct security defects in Java and C applications throughout the software development process. DTCC is the primary post-trade infrastructure for the U.S. financial services industry, handling more than $1 quadrillion in securities transactions in 2004.

"We've already analyzed more than three million lines of code across five applications and were very impressed with the results," said Jim Routh, chief information security officer, DTCC. "By rolling out CodeAssure 2.0 to our entire distributed development organization, we'll be able to improve the level of compliance with critical security controls and processes we use to build applications, while simultaneously educating our staff about the importance of application-level security throughout the process. We expect CodeAssure and the enhancements we've made to our systems development methodology to yield a substantial, positive long-term impact on the overall information security of our organization."

The CodeAssure product suite includes CodeAssure Workbench for source code analysis, CodeAssure Integrator for integrating security testing with existing quality assurance tools and build processes, and CodeAssure Management Center for centralized reporting, analysis and policy-management. As part of a recently instituted corporate policy regarding new projects and applications, DTCC has begun running source code through CodeAssure to find and remediate security defects before the application reaches quality assurance (QA). The company will also use CodeAssure Management Center to perform defect trending analysis, manage multiple projects and monitor for policy compliance across the development organization.

"Financial services organizations are audited to ensure that the security of their systems does not represent undue risk to the overall business. Keeping those systems online and compliant is critical to their business," said Kevin Kernan, CEO of Secure Software. "Properly testing software for security vulnerabilities, compliance and code quality prior to deployment reduces the increasing costs associated with on-going audits and dramatically reduces an organization's exposure to the myriad of threats--including worms, viruses, hacks and denial-of-service attacks--that bring down systems and negatively impact customer confidence, service availability and software maintenance costs. DTCC is taking a leadership position within the financial services market by addressing the root cause of the security problem during the development lifecycle."

Through its subsidiaries, DTCC provides clearance, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities and over-the-counter derivatives. DTCC's depository also provides custody and asset servicing for more than two million securities issues from the U.S. and 100 other countries and territories. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with their distribution networks. DTCC has operating facilities in multiple locations in the United States and overseas.

About Secure Software

Secure Software helps organizations cost-effectively eliminate security flaws and improve application quality at the source - software code. The Company's CodeAssure(TM) product suite automates the discovery and management of security vulnerabilities and coding flaws, enabling security professionals and teams of developers to build more secure applications. The company also provides the industry's first process, CLASP (Comprehensive Lightweight Application Security Process), for architecting and designing security and code quality into software systems early in the development lifecycle. Based in McLean, Va., Secure Software products are deployed on thousands of desktops across financial institutions, large government agencies and utilities, healthcare organizations and independent software vendors. For more information visit www.securesoftware.com.

Source: Business Wire

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