Case Study: Liquidnet achieves streamlined, continuous third-party security monitoring and regulatory compliance with SecurityScorecard

Liquidnet - Customer Case Study

Liquidnet, the global institutional trading network serving more than 800 asset managers and subject to SEC and FINRA oversight, struggled to meet third‑party review requirements using inconsistent self‑reported vendor information and occasional SOC/ISO reports. The point‑in‑time assessments left gaps in continuous visibility and made it impossible to quantitatively compare vendor security without adding significant bandwidth to Al Berg’s security team. To address this, Liquidnet turned to SecurityScorecard and its continuous security ratings platform.

SecurityScorecard provided a holistic, quantifiable view of Liquidnet’s third parties—using factors like IP Reputation and Hacker Chatter—to deliver continuous monitoring, side‑by‑side vendor comparisons, industry benchmarking, and downloadable reports. As a result, Liquidnet moved from annual, manual assessments to real‑time oversight, saved analyst hours (avoiding hires), gained a standardized way to validate vendor compliance (e.g., SIG, SOC/ISO claims), and can now confidently report vendor risk to the board and regulators—SecurityScorecard becoming a “force multiplier” for the team.

Liquidnet

Al Berg

Chief Security and Risk Officer