The Financial Services Information Sharing and Analysis Center (FS-ISAC) and the Depository Trust & Clearing Corporation (DTCC), have entered into a strategic joint venture to develop a cyber security product.

The joint venture, named Soltra, has been established to deliver software automation and services that collect, distill and speed the transfer of threat intelligence from a myriad of sources to help safeguard against cyber attacks.

“Today, most cyber threat information is provided manually to users from various, unconnected industry sources. Because of this, on average, it can take firms seven hours to evaluate each threat,” states Mark Clancy, CEO of Soltra, corporate information securities officer of DTCC and board member of FS-ISAC.

“With Soltra Edge, one organization’s incident becomes everyone’s defense. The solution will enable clients to send, receive, and store cyber security threat intelligence in a streamlined and automated format, enabling these firms to deploy safeguards against a potential cyber attack.”

Named after one of the best-known medieval beacon fire networks in Europe that warned of invaders, the firms say that Soltra Edge will connect and streamline the flow of threat intelligence between communities, people, and devices by processing large amounts of threat data, improving efficiencies and enabling immediate action to counter the threat and mitigate risk.

Soltra Edge is currently being tested by users and will be generally available in late 2014.

“As a joint venture, Soltra has assembled a world-class team and support from some of the most respected companies in the world in order to architect and build a solution for tomorrow’s information sharing,” says Bill Nelson, president of Soltra and president and CEO of FS-ISAC.