Strengthening Cyber Security for a Global Foreign Exchange Platform

The Company 

Foreign Exchange is a leading international operator of regulated securities and derivatives markets, including a regulated presence in the UK. Its global electronic trading platform connects many of the world’s largest investment banks, trading firms and brokerages, processing high volumes of transactions every day. 

With business-critical trading activity and sensitive data delivered online, maintaining a robust, cyber-ready security posture is essential to protecting both operations and reputation. 

The Challenge 

The financial services sector continues to experience a sharp increase in sophisticated cyber attacks, driven by the high value of financial data and trading infrastructure. Against this backdrop, the organisation needed to modernise its security controls to ensure continued protection without unnecessary complexity or cost. 

The existing on-premise web application firewall (WAF) was approaching the end of its support contract. Rather than simply replacing it like-for-like, the organisation wanted to evaluate whether next-generation alternatives could offer improved protection, flexibility and value. 

To make an informed decision, the business needed to thoroughly assess shortlisted WAF solutions in a live environment. This included mirroring the configuration of the existing platform, integrating with the organisation’s SIEM system, and coordinating a structured proof-of-concept (POC) process - activities that required specialist support. 

The Solution 

A structured proof-of-concept programme was established to evaluate two shortlisted solutions: the incumbent vendor’s virtual appliance-based WAF and a cloud-based WAF platform. 

The POC was designed to closely replicate the existing environment, including configuration alignment and full integration with the organisation’s SIEM system. A dedicated target system was used to validate real-world performance, management, and visibility. 

As testing progressed, the scope of the POC was expanded over several weeks to include additional systems. This enabled broader validation of the solution’s effectiveness, scalability and operational value, while maximising return on investment from the evaluation process. 

The Results 

The proof-of-concept clearly demonstrated the advantages of the cloud-based WAF over the legacy on-premise solution. The organisation selected the cloud platform based on its technical capability, ease of use and overall value. 

The chosen solution delivered: 

• Next-generation WAF architecture with an intuitive user interface
• Rapid deployment and seamless integration with the existing SIEM
• Immediate improvement to the security posture of protected systems
• Cost-effective managed service with strong SOC-based support
• A unique balance of local SSL key control with cloud scalability 

The outcome was a modernised security platform that strengthened cyber resilience, reduced operational complexity and provided confidence that the organisation's trading infrastructure is protected against evolving threats.