Dom Maklerski BDM S.A.
Dom Maklerski BDM S.A. has been active on the capital market since 1993 and is a licensed entity operating based on authorizations issued by the Financial Supervision Authority.
Because of the implementation of the MIFIDII directive (starting January 1st 2018), requiring investment firms i.a. to archive reports of transactions made available to Clients, Dom Maklerski BDM faced the problem of using the so-called durable medium, constituting one of the requirements of fulfilling the aforementioned regulation. One of the conditions of the definition of a durable medium is i.a. the unchanged state of the data made available to the Clients," says Leszek Klisz, Director of IT Department, Dom Maklerski BDM S.A.
The new regulations gave rise to the need to implement new technology satisfying the requirements of the Office of Competition and Consumer Protection. In line with the legislation, investment firms should inform their clients of significant changes in rules and regulations using a so-called durable medium. It can be e.g. a traditional letter, USB memory or email. However, information transmitted via a contact box in a transaction service, available after logging in to the account, doesn't qualify. This is caused by the fact that it does not possess all the attributes characterizing a durable medium, as it remains entirely under the control of the institution. Thus, the client has no guarantee that the content of the information won't be altered by the bank or investment firm and has no access to it after the termination of the agreement.
Based on an analysis of the available solutions, the Dom Maklerski BDM S.A. company started a cooperation with the K3System company, which offered a solution meeting the OCCP requirements. It is a matrix equipped with a WORM (Write-Once-Read-Many) mechanism.
"The technology offered by K3System guarantees that a file that has been entered into it once can't be deleted from it or altered," says Paweł Jedynak, Sales Director, K3System Sp. z o.o.
"The K3System company supplied us with a NetApp matrix as a solution meeting all the regulatory requirements concerning security. It is a solution that has all the necessary certificates and is accepted by our market's regulatory agency," says Leszek Klisz, Director of IT Department, Dom Maklerski BDM S.A.
NetApp is a global leader in advanced mass storage systems dedicated to modern companies working with large amounts of data. The FAS2620 system is operated by NetApp ONTAP® software. It is simplified in such a way that it consists in the management of the expansion of the system and its complexity thanks to ensuring high efficiency and support for a wide scope of tasks and thanks to the possibility of operative scaling of the system's efficiency and capacity.
"The implementation of the NetApp matrix ensures an investment firm such as ours that we are operating in line with the legislation. We also gained a guarantee that the data made available to the Clients is stored in a secure manner, in line with the requirements of the regulations," says Leszek Klisz. Director of IT Department, Dom Maklerski BDM S.A.
Dom Maklerski BDM S.A. is already preparing for another implementation. The company is planning to buy another matrix in the same technology for the backup center in order to set a data replication mechanism in place.
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