SOURCE: Storiant

Storiant

August 13, 2014 08:30 ET

Private Cloud Storage (Finally) Meets SEC Regulatory Requirements for Financial Services Industry

Object-Based Storage Software Provider Storiant Receives SEC Rule 17a-4(f) Compliance Certification

BOSTON, MA--(Marketwired - Aug 13, 2014) -   Storiant, the leading provider of cold storage software for private clouds and big data analytics, today announced that its software fully meets the requirements of the Securities and Exchange Commission's (SEC) Rule 17a-4(f) governing long-term data retention. The certification marks the first time financial services companies can adhere to regulatory requirements with a secure private cloud that matches pubic cloud economics (less than $.01/GB/month). 

Storiant received the certification from Cohasset Associates Inc., an independent, third-party auditor that detailed the system's requirements, assessment, capabilities and considerations that meet SEC regulatory compliance. Cohasset's complete compliance assessment report on Storiant is available here.

"Too many financial companies have had to live with expensive and isolated storage options to comply with SEC regulations," said Jeff Flowers, CEO and co-founder of Storiant. "Now, with software that makes it possible to comply with regulations in a private cloud -- at public cloud prices -- these companies can finally take advantage of a new generation of economical, scalable and secure storage. The advantages of a private cloud are no longer out of reach."

Storiant software is an object-based storage management solution for exabyte-scale data. According to Cohasset, "it operates independently from client applications and has intrinsic integrated controls that prevent content from being prematurely overwritten, deleted or altered." Cohasset certified that Storiant software meets the requirements of:

  • Securities and Exchange Commission (SEC) 17 C.F.R. § 240.17a-4(f), which regulates exchange members, brokers or dealers.
  • Commodity Futures Trading Commission (CFTC) 17 C.F.R. § 1.31(b)-(c), which regulates commodity futures trading.

In addition to SEC 17a-4(f) compliance, Storiant also offers the following benefits:

  • Object store for managing structured and unstructured data
  • Exabyte scalability
  • Software managing low-cost commodity drives including new shingled magnetic recording (SMR) disks
  • Fast data throughput for migration and big data analytics
  • Power down capability that uses 75% less power, plus doubles disk life
  • Once-per-year maintenance via sparing and redundancy to reduce support costs
  • Eighteen nines of reliability with two copies, plus immutability for compliance
  • Easy integration via cloud-ready REST interface and gateways 

For more information please visit: www.storiant.com

About Storiant
Founded in 2012, Storiant is the leading provider of cold storage software for private clouds and big data analytics. The company enables data centers to retain exabyte-scale data at 90 percent lower cost than traditional alternatives, rivaling the cost efficiencies and scalability of the public cloud without sacrificing security and control. Storiant is headquartered in Boston, MA.

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