GES Announces Launch of GES 2FA Mobile App in Response to SFC’s Latest Guideline on Internet Trading Security

By , in PR PR Sci/Tech on .

In response to latest guidelines on internet trading security released by SFC on 27 October 2017, GES has developed GES 2FA App and implemented the two-factor authentication (2FA) for clients to login to their internet trading accounts in GES EX Securities Trading System.

Hong Kong, Hong Kong S.A.R., November 18, 2017 — In order to tackle the rising risk of hacking accompanying the rapid growth of online securities trading in Hong Kong, The Securities and Futures Commission (SFC) released the “Guidelines to Reduce and Mitigate Hacking Risks Associated with Internet Trading” on 27 October, 2017. The Guidelines set out 20 baseline preventive, detective and other control requirements for the industry to improve their cyber-security awareness and resiliency. One major control, the implementation of two-factor authentication for clients to login to their internet trading accounts, will take effect on 27 April 2018, while the remaining requirements will be effective on 27 July 2018.

As a global leading provider dedicated in financial technologies, Global eSolutions (HK) Limited (GES) has been providing professional internet trading solutions to financial institutions for more than 10 years, offering a secure, reliable and 24 x 5 continuous trading services. In response to the new guidelines released by SFC, GES EX Securities Trading System (GES EX) has implemented the two-factor authentication (2FA) for clients to login to their internet trading accounts. Unlike traditional banks mainly employs physical security device, which is also known as hard token, and Short Message Service One-time Password (SMS OTP) as 2FA tools, GES use mobile application, which is also known as a soft token, as the security device which seamlessly combines the convenience of SMS OTP with the security of token technology. It helps brokerages to get rid of the investment and maintenance cost on hard tokens as well as SMS expenses, while brokerages’ customers no longer need to bring along the hard tokens in daily life.

GES 2FA App, a two-factor authentication mobile application developed by GES, is remarkably user-friendly. The app provides either “Online Authentication” or “Offline Authentication” for clients to login to the internet trading platform. Online Authentication takes only two steps, once users enter their pre-set Personal Identification Number (PIN) in the app, their trading accounts will be logged in automatically. On the other hand, if users are in places where internet connection is weak or suffer from interference, they could choose “Offline Authentication” alternatively. GES 2FA mobile app will function as an offline code generator by randomly generating an one-time verification code for clients to login to their internet trading accounts. Currently, GES 2FA App is available for free download in both Apple App Store and Google Play Store.

Apart from that, GES EX securities trading system also provides another two measures to further enhance the system’s security level, including “IP Address Monitoring” and “Prompt Notification of Online Activities”. Brokerages could track the login details of all clients via system report, such as IP address, access channel, date and time etc., to detect any suspect online activities or unauthorized login. Meanwhile, GES EX will send prompt notifications such as email, SMS or mobile application push notifications to clients once the system detects any online activities in their trading accounts. These activities include, but not limited to, account login, password reset, trade execution and fund transfer to a third party account. It allows the investors to obtain instant information of their online trading accounts in an attempt to reduce the risks and threats involved in internet trading.

About GES
Global eSolutions (HK) Limited (“GES”) is a global leading IT service provider dedicated in financial technologies for more than 10 years. GES empowers financial institutions with algo-trading capability, advanced risk management and FIX bridging solutions. GES fully covers the needs of the on-floor trading and OTC markets, with value-added services ranging from IT technical support, system integration, bespoke software and network infrastructure development to hosting services. With GES technologies, financial institutions are able to overcome the challenges of risk management, position management, liquidity source and trading across different financial instruments in a single platform. GES’s well established partnering with top-tier financial institutions and prime brokerage firms can fulfill customers’ needs of liquidity and market depth. GES ensures the highest level of certainty and satisfaction through comprehensive industry expertise and a deep-set commitment to customers.

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Maria Burns

Maria Burns

Maria is a Viral News Editor who graduated from the University Of California. She likes social media trends, being semi-healthy, Buffalo Wild Wings and vodka with lime. When she isn’t writing, Maria loves to travel. She last went to Thailand to play with elephants and is planning a trip to Bali.
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