Saxo Bank bolsters SaxoTraderGO resilience to DDoS attacks

Maria Nikolova

Saxo is moving from a reactive to a proactive protection setup, meaning that its service will be presented at a new IP address.

Multi-asset trading and investment specialist Saxo Bank has informed its White Label partners of its plans to strengthen the resilience of SaxoTraderGO to DDoS attacks.

The company said that in order to ensure resilience against the ever-growing threat of cyber attacks, it is making adjustments on how the SaxoTraderGO platform is exposed to the external world. With regard to that, Saxo is moving from a reactive to a proactive protection setup, meaning that its service will be presented at a new IP address.

If white label partners are currently using CNAME entry in their DNS for their Login URL towards Saxo, no action from their end is required. The change will be transparent when the IP address is changed by Saxo.

If the partners are currently using A-Record towards Saxo, they will need to change their DNS configuration from A-record to a CNAME. The Account Manager will contact them in the near future with additional details of the required changes. Primarily, this will include removing the A-Record and creating a CNAME record pointing to your.domain.com.wlc.dclb.net. (including the trailing “.”).

In June this year, Saxo Bank successfully passed an IT inspection conducted by Denmark’s Financial Supervisory Authority (FSA). The regulator checked Saxo’s IT security management, IT strategy, organization, contingency plans, security policies and guidelines. Also, the FSA reviewed Saxo Bank’s procedures for access to systems and data, system audit, outsourced IT capabilities, and the requirements and procedures for reporting.

The regulator noted that Saxo Bank’s business model makes the company highly dependent on a stable and secure IT environment. It also added that Saxo Bank had implemented well-documented business procedures to control risks and to report to the Executive Board and the Board.

DDoS attacks are not uncommon in the online trading world. The latest reports of such an attack from the industry came from Canada’s Questrade and Japan’s Kabu.com. The attack against Questrade hampered the work of its platforms for several hours on June 16, 2017. The company explained that what happened was not a ‘hack’ and no personal information had been compromised. Kabu.com had its corporate website under attack on June 29, 2017 – the service was restored after approximately 30 minutes. The Japanese company said there was no information leakage as a result of the attack.

Read this next

Institutional FX

PrimeXM reports lower volumes for July as summer lull bites

PrimeXM has reported weaker trading volumes for July 2022, in line with other institutional and retail platforms that saw the activity of their clients dropped compared to a month earlier.

Retail FX

FCA warns of ATFX Global Trading / ATFXcoin

In its latest clampdown against the specific type of ‘clone fraud’, the Financial Conduct Authority (FCA) has warned local investors to watch out for a company called ATFX Global Trading / ATFXcoin.

Digital Assets

CME Group to roll out options on Ether futures next month

Derivatives exchange CME Group is set to roll out options on Ether futures on September 12 in a move to bring another level of diversification to cryptocurrency traders.

Industry News, Podcasts

Finance Feeds launches Podcasts: Listen to Ep. #1 feat. Dmitri Galinov of 24 Exchange

The team at Finance Feeds are happy to announce the launch of our Podcast series, available on Spotify and other audio services and hosted by our Editor-in-Chief Nikolai Isayev.

Digital Assets

Madfish launches Yupana.Finance, the first lending protocol on Tezos

Yupana, which aims to provide a similar experience to Aave or Compound, currently supports TEZ, cTEZ, kUSD, tzBTC, uUSD, and uBTC.

Industry News

SEC charges barred broker Anthony J. Mastroianni with $1.2m fraud targeting elderly

Instead of using investor monies to generate income, Mastroianni withdrew over $486,000 of investors’ money from his firm’s bank account and used ill-gotten funds for personal expenses on luxury items, the SEC alleged. 

Digital Assets

Unizen names crypto veteran Michael Healy as chief strategy officer

CeDeFi exchange Unizen has onboarded crypto industry veteran Michael Healy, who originally worked for Wikileaks and built their android application in 2010, as Chief Strategy Officer.

Institutional FX

Sterling Trading Tech adds FX and Crypto to risk and margin system

The Risk-as-a-Service solution provides supports FX spot, forward, and swap trades and positions, in any currency pair, as well as Crypto including crypto priced in any currency.

Interviews, Metaverse Gaming NFT

Exclusive: Wayne Marcel explains FIO Protocol amid fight against fraud on NFT markets

It’s been 12 years since Satoshi Nakamoto released the white paper that introduced Bitcoin to the world.

<