Brokerage Firms Trade Confirmations
Each time someone places a buy or sell order, the brokerage firm they use must send a trade confirmation to that person. Confirms contain sensitive information, and their delivery is governed by privacy regulations. Since regular email isn’t secure, most confirms are printed and sent via postal mail. Given the number of confirms that are sent every day this is a very expensive approach, and doesn’t provide auditing or tracking capabilities.
Instead of printing and mailing the confirms containing sensitive information, brokerage firms can send them via SecureMail which encrypts and securely delivers the confirms electronically. The process can be set up to automatically send the confirms from an internal system. The brokerage receives a proof of receipt for each message for reconciling their records, and full tracking is available for auditing purposes.
Benefits and Results
- Minimum 60% cost savings over postal mail delivery
- Instant delivery of confirms – instead of waiting 2-3 days for postal delivery
- Immediate feedback if errors occur
- Proof that confirm was delivered and whether it was opened
- Tracking for auditing purposes
- Peace of mind-knowing sensitive information was sent securely