Your security is a priority at OpenMarkets
We have implemented a number of measures that enhance our operating model, infrastructure and technology to afford you greater security over your assets and your personal information:
- Your securities are registered into your name and held securely on your HIN.
- Your cash is kept in your personal linked Cash Management Account (CMA) at one of our partner banks.
- The RBA has recently released Financial Stability Standards for Financial Market Infrastructure which has resulted in the ASX introducing new rules and CHESS processing changes to achieve better client asset protection surrounding settlement processing. As OpenMarkets is an ASX Clearing and Settlement Participant, we are obliged to adopt the new rule changes being introduced and we are working closely with the ASX and relevant vendors in this regard.
- Our policies on Internet security and personal privacy are comprehensive and impact all areas of our business.
- The technologies we use are the best available, and we continually work to improve our software, hardware and best practices.
- Above all, any security measures we undertake are constantly evaluated to ensure that we are always in line with — or ahead of — industry standards.
Be proactive in ensuring your online security
The issue of online fraud and identity theft is a constant and growing concern. The specific nature of the threats — the techniques for stealing your personal information — changes as rapidly as solutions to old threats are found.
- Keep informed of trends in fraud and identity theft.
- Monitor all financial activity including your brokerage account.
- Safeguard your personal details on and off-line.
- Always communicate with OpenMarkets regarding any matter that affects your account, whether it is an email address change or suspicious activity.
What you can do
In order to be truly effective, any actions OpenMarkets takes to ensure your security must be made in conjunction with the actions you take. Safe computing habits also include offline actions, like shredding documents with personal details or informing businesses – including your brokerage – of any changes of address. Adopt best practices online:
- Do not share your password or username with anyone. Keep your personal identification questions and responses private and secure.
- Change your password and your personal identification question and response, at minimum, every 30 – 60 days.
- Avoid accessing your account in public locations, such as Internet cafes or libraries.
- Always log off and close your browser after every online banking session and shut down your computer when not in use.
- Protect your computer through the use of anti-virus software, anti-malware/spyware software and firewalls. A new computer is pre-configured with factory settings. Running your computer with these defaults leaves you open to security breaches.
- Safe online practices – ensure you protect your online interactions.