European depository Euroclear has signed a three year deal with UK telco BT for the provision of security monitoring and management services.
BT says Euroclear has selected its Managed Security Solutions package to protect its critical information assets and infrastructure. The service is powered by Counterpane, an Internet security division acquired by BT in 2006.
The agreement calls for BT to conduct real-time monitoring, correlation and analysis of Euroclear's technology assets, says BT. This will enable the depository to instantly respond to and mitigate against a wide range of threats to computers, applications and networks that arise from inside and outside the organisation.
Following the introduction of the security monitoring service, Euroclear will be better able to see how its security infrastructure is performing and access standard daily, monthly and weekly reports, says BT.
Wim Claeys, executive director, Euroclear, says: "Safeguarding client transaction processing, data and securities holdings, is a high priority for us; we are confident that BT's Managed Security Systems will move us even closer to zero-tolerance levels."