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News

Asset management company protects information assets with Moveit dmz

Ipswitch : 26 November, 2009  (Application Story)
Secure file transfer system for the protection of sensitive information on the move has been supplied to Hermes Fund Managers
Multi-specialist asset management organisation relies on Ipswitch to protect the transfer of sensitive data and information

Ipswitch File Transfer division, a global developer of comprehensive secure and managed file transfer solutions, has announced that Hermes Fund Managers, a multi-specialist asset manager owned by BT Pension Scheme (BTPS), has implemented Ipswitch's MOVEit DMZ to provide them with a secure and reliable solution to help protect the transfer of sensitive data and information.

"We exchange a lot of data including sensitive market information, pricing and trade information, with a large number of third parties" explained Jamie Dewar, Technical Services Manager, Hermes. "We therefore required an enterprise-class FTP solution which needed to be very secure due to the sensitivity of the data."

Hermes offers investment solutions ranging from alternative strategies, such as fund of hedge funds and commodities, to engagement focus funds, real estate, private equity and specialist equity products. Its pension fund management service, Hermes Pension Fund Management Limited (HPFM), runs alongside its multi-specialist structure and acts as the executive arm of the BT Pension Scheme (BTPS). Hermes currently invests assets on behalf of 204 clients across these product areas and has over £20 billion under management.

"Having recognised the need for a solution, we evaluated several products that were placed in Gartner's Magic Quadrant, said Mr Dewar. Ipswitch's MOVEit DMZ solution met our requirements of ease of use, flexibility, security and DR capability. We also liked the way the server partitions itself up in MOVEit, and that everything on the server is encrypted."

MOVEit DMZ is an enterprise data transfer server that boasts end-to-end encrypted transfer and storage of data, as well as delivering powerful administration and reporting capabilities. It resides on a secure server in a 'de-militarised zone' (DMZ) attached to a firewall. This enables it to be accessed through the firewall from both inside and outside of a network for transfers including End-User-to-End-User, End-User-to-Backend-System and Backend-System-to-Backend-System.

MOVEit DMZ utilises FIPS 140-2 Validated Cryptography including 256-bit AES encryption that is used to securely store every file, message and Web form posting received. It also supports end-to-end encrypted transfer and storage, without the need to use a separate, third party encryption program such as PGP. As it provides its own, separate, secure permission and storage capabilities, hackers cannot access the data MOVEit DMZ handles, even if they subvert the underlying OS.

"We download a lot of time-sensitive market data overnight, pulling down several million rows of information. MOVEIT DMZ has proven to be very reliable since deployment," said Mr Dewar. "It fits in well with our overnight processing, which used to be manual. We've got a new job scheduler and MOVEit ties in nicely with the job scheduler through the APIs, feeding error codes back to the job scheduler."

"Ipswitch's products have been the secure file transfer solution of choice for more than forty million users over the last 17 years," said Ipswitch's UK Sales Manager, Chris Greaves. "It is the safest way to move and share files both within a company and across the globe. We are extremely happy that Hermes is benefiting from using the product."

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