Naperville, IL and New York, NY, January 9, 2006 â Worknet Inc., an IT infrastructure managed services provider specializing in email hosting, and Sector, Inc.Â®, a leading managed services, communications and market data distribution provider for the financial services industry, today announced a new combined solution for hosted email and email/IM archiving. The Worknet-Sector Hosted Email Archiving Solution (Worknet-Sector Solution) is comprised of WorknetEmailSM along with Sector EmailComplySM for archiving email and Instant Messages (IM).
As a hosted solution, the Worknet-Sector Solution is especially attractive to firms that want to cost effectively reduce the storage and server infrastructure and associated support costs inherent in building and managing email and email/IM archival systems. It is less problematic than installing, upgrading and supporting an in-house solution and is customized to the business model and organization of each client.
The Worknet-Sector Solution helps hedge funds, broker-dealers, fund managers, investment advisors, and other financial services firms stay ahead of evolving SEC, NASD and CFTC email regulations while maintaining the flexibility to deploy any electronic communications technology they choose.
The highly flexible WorknetEmailSM is accessed via any capable device â PCs, PDAs, BlackBerrysÂ®, and cell phones â at any time. Email desktop software is expertly supported 24/7 and upgrades, including virus and spam protection, are automatic and always up to date without the need for costly in-house installations, licenses, or maintenance. Fully redundant servers are kept in two sites for maximum business continuity. Clients benefit from flexible on-demand payment models that enable them to pay only for mailboxes used and allow a generous total mailbox storage capacity that can be allotted as needed. Worknet adapts to meet the needs of clients so they donât have to waste time or money changing their electronic communication methods and processes. Worknet has been supporting Microsoft ExchangeÂ® since its deployment and has a proven track record of reducing the cost and complexity of secure email for several financial industry leaders.
Sector EmailComplySM enables firms to store and retrieve email and IM along with their attachments in conformance with relevant SEC, NYSE, and NASD regulations as well as company information lifecycle management policies, including storage on non-rewriteable and non-erasable media; automatic verification of the accuracy of the recording process; creation of searchable and duplicate indexes stored separately; systematic audits; and designated third party access. Sector EmailComply supports multiple formats and includes web-based implementation, sophisticated indexing, full text and attachment search tools, and secure Internet availability. Email, IM and attachments are archived for as long as regulations or corporate policies require. Viewing and searching is restricted to authorized personnel.
Sector is the subsidiary of SIACÂ®, a wholly owned subsidiary of the NYSEÂ® and AMEXÂ®. Sector utilizes the highly reliable SIAC SAS 70/Level 2 certified data centers, which offer extremely secure environments and redundant infrastructures that are complete with redundant cooling and power systems.
Bill Castellano, Chairman of Worknet Inc., explains, "The Worknet-Sector Solution is designed to let financial services firms take email off their worry list. Many firms have been unsuccessfully grappling with meeting the requirements of SEC 17a-4, NASD 3010 and other regulatory issues. Even large firms with well-developed IT departments need more cost-effective ways to keep up with email regulations, seamlessly incorporate new hardware and software for electronic communications, or find effective methods for deterring email threats such as viruses and spam. Unfortunately, standardized email hosting and archiving services with inflexible cookie cutter approaches have been lacking, which is why a full-service solution built on the firm foundations of trusted resources was needed."
Allan Graham, Senior Vice President of Sector, Inc. added, "By collaborating, Worknet and Sector have created one complete reliable hosted solution for email and email/IM archival with the flexibility to meet todayâs and tomorrowâs changing business and regulatory requirements. The Worknet-Sector Solution is the only fully hosted email solution housed in major financial markets located in New York and in Chicago for failsafe server redundancy."