With the completion of SOC 1, Cboe Digital continues to demonstrate its commitment to the highest level of financial and operational controls in the crypto industry
CHICAGO – December 5, 2022 – Cboe Digital is pleased to announce that it has completed an independent Service Organization Controls (SOC) audit of its Cboe Clear Digital clearing services platform and received a SOC 1 Type II certification conducted by a major national auditing firm. The SOC 1 Type II exam reviewed the design, implementation and operational effectiveness of Cboe Clear Digital’s financial transaction operations and reporting controls.
“The completion of our SOC 1 Type II audit demonstrates Cboe Digital’s continued commitment to maintaining the highest level of financial and operational controls,” said John Palmer, President of Cboe Digital. “An independent audit of our operations and security compliance is one thing our institutional partners expect to inspire trust and verify the critical controls that must be in place when choosing to participate in crypto exchanges and clearinghouses. “
In addition to the SOC 1 Type II certification, Cboe Digital has a SOC 2 Type II certification. The SOC 2 Type II reviews Cboe Clear Digital’s security, system changes and upgrades, system availability, protection of client funds and information and audit procedures, and the internal standards by which Cboe Digital employees hold themselves accountable.
Cboe Digital operates a regulated exchange and clearing house with Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) licenses from the US Commodity Futures Trading Commission (CFTC). Cboe Digital is committed to keeping members’ funds safe and segregated. Traditional market infrastructure was built on building blocks of established capital markets to ensure proper security protocols are in place. This best practice is in the interest of the member and is intended to help build trust in the crypto markets.
| About Cboe Global Markets, Inc. |
Cboe Global Markets (Cboe: CBOE), a leading provider of market infrastructure and tradable products, delivers state-of-the-art trading, clearing and investment solutions to market participants around the world. The company strives to operate a trusted, inclusive global marketplace and provide leading-edge products, technology and data solutions that enable participants to define a sustainable financial future. Cboe offers trading solutions and products across multiple asset classes, including equities, derivatives, forex and digital assets, in North America, Europe and Asia Pacific. To learn more, visit www.cboe.com.
Cboe Digital offers individuals and institutions a single, innovative platform to access crypto spot and futures markets. Combining professional tools, advanced technology, sophisticated regulatory oversight and a diverse range of products, Cboe Digital offers digital market participants compliant, capital markets-friendly workflows. Backed by some of the world’s largest trading firms and financial institutions, Cboe Digital brings transparency and reliability to the digital asset class.
Cboe Digital Futures are offered through Cboe Digital Exchange, LLC, a CFTC-registered DCM, and Cboe Clear Digital, LLC, a CFTC-registered DCO. The CFTC has no regulatory oversight authority over virtual currency products, including spot market trading in virtual currencies. The Cboe Digital Cash Market is not licensed, authorized or registered with the CFTC, and transactions on the Cboe Digital Cash Market are not subject to the rules, regulations or regulatory oversight of the CFTC. Cboe Digital Spot Market may be subject to certain state licensing requirements and operates in New York under the Cboe Clear Digital License to Conduct Virtual Currency Business Activities by the New York State Department of Financial Services. Cboe Digital and the Cboe Digital logo are trademarks of the Cboe Global Markets Group of Companies. To learn more, visit www.cboedigital.com.
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