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With an aim to strengthen cyber security services and safeguard the interests of stockbrokers, stock exchange BSE on Friday announced that it has entered into a pact with security services provider Si Consult.
The move comes after markets regulator, Securities and Exchange Board of India (Sebi), in December 2018 put in place a stricter cybersecurity framework for stock brokers and depository participants amid concerns over possible data breaches. Sebi had asked brokers and depository participants to formulate comprehensive cybersecurity and cyber resilience policy document encompassing the framework.
“After a detailed assessment, and capabilities evaluation by BSE, Si Consult has been selected as one of its partners to provide these services to its members,” the exchange said in a release.
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“Besides adhering to Sebi’s guidelines to protect the integrity of data and guard against breaches of privacy, at BSE our constant endeavour is to secure interests of stockbrokers with the help of cutting-edge technologies and security services,” said Shivkumar Pandey, Chief Information Security Officer at BSE.
By associating with Si Consult, we will be in a better position to tackle all the challenges pertaining to capital markets ecosystem, he added.
Si Consult offers customised service in areas of—managed detection and response, vulnerability management, firewall management, threat intelligence, Digital foot-printing and third-party risk among others.
(With input from agencies)
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