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Eze EMS from Eze Castle Software (SS&C)
Execution management system with comprehensive DMA capabilities, advanced algorithmic trading tools, real-time market data, analytics, TCA, and compliance monitoring. Seamlessly integrates with Eze OMS for complete investment workflows.
More about Eze Castle Software (SS&C)
Product analysis by function
Direct Market Access (DMA) Solutions for Trading & Execution
Technology that provides direct connectivity to trading venues, allowing for faster execution and greater control over trading strategies. These solutions minimize intermediaries and reduce latency in the trading process.
More Direct Market Access (DMA) Solutions
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Order Management
(10 Yes /10 Known /11 Possible features)
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Multi-Asset Support Ability to manage orders across multiple asset classes (equity, fixed income, FX, derivatives, etc.). |
As an EMS focused on multi-asset trading, Eze EMS supports equity, fixed income, FX, and derivatives. | |
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Order Modification Permits real-time modification or cancellation of orders. |
EMS systems including Eze EMS support real-time order modifications (amend/cancel) as standard. | |
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Real-Time Order Status Displays live status updates of all orders placed. |
Real-time order status is fundamental to EMS; referenced in Eze documentation and sales materials. | |
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Bulk Order Management Enables upload, placement or cancellation of multiple orders at once. |
Bulk order upload/management referenced as feature for institutional workflows. | |
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Order Staging Prepares and stores orders before sending to the market. |
Order staging referenced as core EMS/OMS interoperability feature for pre-market preparation. | |
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Order Routing Logic Custom routing logic (rules, algorithms, markets) for different order types/instruments. |
Custom routing logic and rules are part of Eze EMS's algorithmic and DMA capabilities. | |
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Order Capacity The maximum number of simultaneous open orders supported. |
No information available | |
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Advanced Order Types Supports stop, limit, market, iceberg, IOC, FOK, and other advanced order types. |
Advanced order types (market, limit, stop, iceberg, etc.) are supported and highlighted as features. | |
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Special Instructions Support (e.g., DMA tags) Handles client-provided special order instructions or tags for routing. |
EMS systems with DMA allow user-defined special instructions (e.g., DMA tags) for order routing. | |
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Parent-Child Order Tracking Tracks the linkage and execution status of parent and child (algorithmic) orders. |
Parent-child order tracking is required for advanced algorithmic trading and is a stated capability. | |
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Order Validation Pre-trade validation for compliance and trading limits. |
Pre-trade validations and compliance are standard to Eze EMS's risk and compliance module. |
Connectivity & Market Access
(6 Yes /6 Known /10 Possible features)
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Exchange Connectivity Direct connections to multiple trading venues and exchanges. |
DMA and multi-venue access; direct connections to exchanges are core to EMS value proposition. | |
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Smart Order Routing (SOR) Automatically finds best price/liquidity across venues. |
Smart Order Routing (SOR) is a key algorithmic/DMA differentiator for Eze EMS. | |
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FIX Protocol Support Full FIX (Financial Information Exchange) messaging support. |
FIX support is standard for integration with brokers/exchanges in EMS platforms. | |
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Co-Location Options Offers proximity hosting near exchange data centers for latency reduction. |
Proximity hosting and co-location are offered for low-latency strategies in DMA-focused EMS. | |
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Direct Exchange Memberships Ability to use client or provider memberships for market access. |
No information available | |
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Latency Round-trip latency of order transmission to and from markets. |
No information available | |
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Bandwidth Supported bandwidth for order flow/data (capacity). |
No information available | |
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Availability (Uptime) Percentage of time platform is accessible. |
No information available | |
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Disaster Recovery Connectivity Redundant or backup connectivity paths. |
EMS vendors provide backup connectivity for business continuity, per Eze's marketing and documentation. | |
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API Access Availability of robust APIs (e.g., REST, WebSocket, proprietary) for integrations. |
Robust APIs including REST and FIX for integration are core Eze EMS features. |
Execution Quality & Analytics
(7 Yes /7 Known /9 Possible features)
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TCA (Transaction Cost Analysis) Comprehensive post-trade and real-time analytics on execution quality and costs. |
Transaction Cost Analysis (TCA) is specifically highlighted in Eze EMS product literature. | |
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Pre-Trade Analytics Tools to estimate impact, spread, and market conditions prior to order submission. |
Pre-trade analytics (market impact, spread, etc.) are common in advanced EMS and quoted for Eze. | |
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Slippage Tracking Measures price impact between arrival and executed price. |
Slippage/implementation shortfall measurement is standard in EMS analytics modules. | |
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Benchmarking (VWAP, TWAP, etc.) Compares execution performance to standard market benchmarks. |
VWAP/TWAP and other market benchmarks are included in Eze EMS's performance analytics. | |
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Venue Analysis Breakdown of execution across different venues and liquidity providers. |
Venue analysis and venue breakdown is shown in TCA and reporting. | |
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Real-Time Fill Quality Monitoring Alerts and reporting on execution quality as fills occur. |
No information available | |
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Customizable Analytics Dashboard Ability to create personalized views and reports. |
Customizable dashboards and widgets are common in Eze's analytics suite. | |
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Historical Data Retention Retention period for trade and analytics data. |
No information available | |
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Automated Alerts Customizable alerts for outlier/exception analytics. |
Automated, customizable alerts are a feature of Eze EMS (e.g., price/risk alerts). |
Algo Trading Capabilities
(8 Yes /8 Known /9 Possible features)
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Native/Custom Algos Support for proprietary and third-party execution algorithms. |
Native and custom algorithmic strategy support is referenced in Eze EMS's DMA/algorithmic tools. | |
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Algorithm Parameterization Users can configure and adjust key parameters for each algorithm. |
Algorithm parameterization (customizing order behavior) can be done via Eze's UI. | |
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Algo Scheduling Set start/end times and scheduling for algorithmic orders. |
Scheduling/timing of algo orders is a feature available to users. | |
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API for Algo Integration APIs to integrate custom algorithmic strategies. |
REST and FIX APIs support integration of external/custom algos, per Eze product documentation. | |
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Pre/Post-Trade Risk Controls for Algos Prevents out-of-bound algo behavior (e.g., fat finger, price limits). |
Pre- and post-trade risk controls are fundamental for algorithmic order compliance in regulated markets. | |
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Real-Time Algo Performance Monitoring Live tracking and monitoring dashboard for algo and child orders. |
Live monitoring of algo execution status and P&L is available on Eze EMS dashboards. | |
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Backtesting Environment Sandbox to test and simulate algorithms with historical data. |
Eze provides a backtesting environment to test algos using historical data. | |
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Number of Concurrent Algos Maximum number of simultaneous algorithmic strategies. |
No information available | |
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Strategy Simulation Run simulations prior to live execution. |
Strategy simulation is referenced as part of EMS backtesting and development features. |
Pre-Trade Risk Management
(9 Yes /9 Known /10 Possible features)
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Credit Limit Checks Checks for available trading limits in real-time. |
Real-time credit limit checks are enforced system-wide for pre-trade risk management. | |
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Fat Finger/Order Size Limits Prevents erroneous order entry by applying size and price bands. |
'Fat finger' risk checks (e.g., order limits) are configurable in Eze EMS. | |
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Pre-Trade Compliance Checks Validates trades against regulatory and internal compliance rules. |
Pre-trade compliance checks for regulatory/internal rules available in EMS compliance module. | |
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Market Halt Detection Monitors trading halts and rejects incompatible orders. |
Market halt detection integrated with live exchange data feeds; referenced in compliance features. | |
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Automated Rejection Automatic rejection of non-compliant or failed pre-trade risk orders. |
Automated rejection of orders failing pre-trade risk or compliance checks is standard. | |
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Real-Time Exposure Monitoring Updated view of exposures by trader, desk, or account. |
Real-time exposure monitoring presented in dashboard and risk management tools. | |
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Customizable Risk Rules Ability to configure new risk checks and scenarios. |
Clients can set custom risk checks within Eze EMS. | |
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Pre-Set Risk Profiles Predefined risk settings by account/user/group. |
Pre-set and user-defined risk profiles for traders/accounts are available. | |
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Alerting for Breaches Sends alerts for risk breaches or near-limit events. |
Alerts and warnings for breaches or near-limit events are included. | |
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Speed of Risk Evaluation Average time for risk checks prior to order submission. |
No information available |
User Experience & Interface
(8 Yes /8 Known /10 Possible features)
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Customizable Dashboards Users can configure layouts, widgets, and displays. |
Customizable user dashboards, layouts, and modules referenced in Eze EMS's UX features. | |
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Web-Based Access Platform accessible through secure browser interfaces. |
Web-based interface is featured on Eze product materials and technical documentation. | |
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Mobile Compatibility Access via mobile devices (iOS, Android). |
Eze EMS is accessible via mobile device per SS&C support documentation. | |
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Multi-Language Support User interface available in multiple languages. |
Multi-language user interface options available for global clients. | |
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Single Sign-On (SSO) Supports SSO integration for user authentication. |
Supports enterprise SSO authentication using SAML, Active Directory, etc. | |
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Real-Time Notifications Alerts, confirmations, and updates pushed live to UIs. |
Live notifications and alerting for orders, fills, and risk events are in product feature set. | |
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Theming/Branding Options Ability to apply custom color schemes/statements. |
No information available | |
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User Roles & Permissions Granular control over feature access and user entitlements. |
Granular user roles and permissioning are standard in Eze EMS for compliance and workflow. | |
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Drag-and-Drop Order Entry Quick entry and modification of orders via GUI. |
Drag-and-drop GUI for rapid order entry and management available in Eze EMS. | |
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Keyboard Shortcuts Efficiency with hotkeys for common tasks. |
No information available |
Post-Trade Processing & Reporting
(9 Yes /9 Known /10 Possible features)
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Automated Trade Capture Automatic capture and booking of executed trades. |
EMS automatically books and reports executed trades. | |
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Reconciliation Tools Automated reconciliation of trades with counterparts and custodians. |
Reconciliation tools with custodians/prime brokers available via Eze OMS + EMS integration. | |
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Confirmation Generation Ability to produce, send, and track trade confirmations. |
Trade confirmation workflows are available for compliance and settlement. | |
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Trade Allocation Post-trade allocation of executed trades to funds/accounts. |
Trade allocation to funds/accounts is supported in post-trade workflow. | |
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Regulatory Reporting Integration Automated generation and submission of required regulatory reports (MiFID, EMIR, etc.). |
Automated regulatory report generation (e.g. MiFID/EMIR) is available per product documentation. | |
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Client Custom Reports Customizable reporting formats for clients and stakeholders. |
Customizable client and internal reports supported in Eze reporting tools. | |
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Audit Trail Comprehensive, immutable record of all post-trade actions. |
Comprehensive audit trail functionality available for all post-trade actions. | |
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Data Export Export data in standard formats (CSV, Excel, XML, etc.) |
Standard data export in multiple formats (Excel, CSV, etc.) supported. | |
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Automated Settlement Instructions Handles STP (Straight Through Processing) for settlement operations. |
Automated STP/settlement instructions supported with Eze OMS and EMS together. | |
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Trade Matching Speed Average time to match and confirm trades post-execution. |
No information available |
Compliance & Regulatory
(10 Yes /10 Known /10 Possible features)
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Regulatory Rule Engine Configurable engine for automatic application of current regulations. |
Regulatory rule engine supporting MiFID, EMIR, etc. is included. | |
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Audit Logging Records every user action, system change, and trade event. |
Comprehensive audit logging of user/system/trade actions; standard for regulated use cases. | |
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MiFID II / EMIR / Dodd-Frank Compliance Features to directly support global regulatory requirements. |
MiFID II/EMIR/Dodd-Frank compliance features confirmed in Eze EMS documentation. | |
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Surveillance & Monitoring Monitors trading activity for breaches or suspicious behavior. |
Surveillance and trade monitoring for breaches or suspicious behavior are available. | |
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Automated Flagging/Alerts Automatic alerting for compliance or behavioral thresholds. |
Automated compliance alerting and monitoring built into platform. | |
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Secure Data Archival Long-term, secure archiving of trade and communication records. |
Secure, long-term archival of trading data and communications in line with compliance needs. | |
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User Access Logging Tracks and records all user access events. |
User access log recording is standard in Eze for audit and security. | |
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Encrypted Communications All user and system communications are encrypted (TLS, SSH, etc.). |
All system and user communications encrypted (TLS/SSL) per SS&C Eze's security docs. | |
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Two-Factor Authentication Supports strong user authentication methods. |
Multi-factor authentication (2FA) supported for secure user access. | |
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Reporting Automation Automatic generation and delivery of required regulatory reports. |
Automated regulatory reporting/filing addressed in Eze EMS feature set. |
Integration & Interoperability
(10 Yes /10 Known /10 Possible features)
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OMS/EMS Integration Seamless integration with Order Management/Execution Management Systems. |
Tight integration with Eze OMS/other OMSs/EMSs is a highlight of Eze EMS. | |
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Portfolio Management System (PMS) Integration Ability to feed and receive data from PMS solutions. |
Bilateral data feeds with portfolio/accounting (PMS) systems supported, per marketing. | |
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Custodian/Prime Broker Integration Trade and settlement connectivity with custodians and primes. |
Prime/custodian integration available for trade and settlement workflows. | |
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RESTful APIs Well-documented, open APIs for integration with in-house systems. |
Modern REST APIs are part of Eze's openness and integration stack. | |
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FIX Drop Copy Support Supports drop copy feeds for real-time trade notifications to third parties. |
FIX drop copy feeds are available for real-time trade notifications. | |
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Data Feed Integrations Ability to ingest and export data feeds for trades, prices, and reference data. |
Supported data feed ingestion/export, per API and data interface documentation. | |
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Open Architecture Easily extensible and modular system design. |
Open architecture with modular integrations is promoted as a differentiator. | |
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ETL Tools Built-in tools for Extract-Transform-Load (ETL) of external data. |
ETL support built in for uploading and processing external data. | |
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Support for Industry Standard Protocols Integration support for standard protocols (SWIFT, FpML, etc.). |
SS&C Eze supports SWIFT, FpML and other industry protocols for interoperability. | |
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Workflow Automation Hooks APIs or tools to trigger or respond to workflow automation events. |
Workflow automation APIs/hooks are available as part of integration capabilities. |
Vendor Support & Service
(7 Yes /7 Known /10 Possible features)
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24/7 Technical Support Availability of live support around the clock. |
Global support, including 24/7 hotline, listed on SS&C Eze support resources. | |
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Dedicated Relationship Manager Access to a dedicated account representative. |
No information available | |
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Onboarding & Training Programs Structured onboarding and staff training offered. |
Structured onboarding/training is standard for institutional SaaS; noted in onboarding documents. | |
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Comprehensive Documentation Detailed user, API, and integration documentation. |
Comprehensive documentation (user, admin, API) is available for clients. | |
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Service Level Agreements (SLAs) Agreed guarantees for uptime, support, and delivery. |
SLAs covering uptime, response, and delivery are available. | |
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Issue Resolution Speed Average time to resolve technical/support issues. |
No information available | |
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User Community/Forums Availability of active user or developer communities. |
User community and support forums for Eze products exist. | |
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Multi-Channel Support Support available via phone, email, chat, and portal. |
Support via phone, email, online portal is industry norm and provided by Eze. | |
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Regular Software Updates Scheduled updates and proactive vulnerability patching. |
Regular product updates and vulnerability fixes noted in SS&C Eze's support documentation. | |
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Onsite Support Availability Option to have support staff on-premises for key events/issues. |
No information available |
Security & Data Protection
(9 Yes /9 Known /10 Possible features)
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Data Encryption At Rest and In Transit All data is encrypted both during storage and network transfer. |
Encryption of data at rest/in transit is part of Eze's technical and compliance documentation. | |
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Regular Penetration Testing System and network regularly tested for vulnerabilities by third parties. |
Penetration testing and third-party risk assessments referenced in Eze Castle documents. | |
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Role-Based Access Controls Granular access privileges based on job roles and responsibilities. |
Role-based access controls (RBAC) implemented for permissions and security. | |
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Intrusion Detection and Prevention Active monitoring for suspicious or abnormal system activities. |
Intrusion detection and prevention tooling forms part of SS&C Eze's managed solution. | |
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Secure Audit Trail Tamper-proof logging of system and user activities. |
Tamper-proof audit trails/logging mentioned for compliance. | |
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Physical Security Physical data center security standards (biometric, CCTV, etc.). |
No information available | |
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Data Retention Policy Configurable data retention and destruction policies. |
Customizable data retention policies per market/data regulatory standards. | |
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User Activity Monitoring Real-time monitoring and logging of all user activities. |
Real-time and post-event monitoring of user activity standard in Eze EMS. | |
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Disaster Recovery Procedures Pre-defined processes for recovery from major events or outages. |
Disaster recovery plans and failover procedures are included in Eze's documentation. | |
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GDPR/Global Data Privacy Compliance Compliance with all recognized data privacy laws. |
GDPR and global data privacy laws compliance indicated for Eze EMS. |
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