Addressing cybersecurity risks at stock exchanges, clearing corporations: SEBI Chief Buch

The Securities and Exchange Board of India (Sebi) is addressing cybersecurity risks and averting cyber attacks at stock exchanges and clearing corporations to strengthen market infrastructure, Chairperson Madhabi Puri Buch said.

“We have a mechanism in the works and it’s in the process of implementation…every client whose broker’s server goes down, will have direct access to exchanges to manage risk reduction and close out his position,” Buch said while speaking at the Global Fintech Fest.

Last week, the capital market regulator announced new guidelines to strengthen the existing cyber security and cyber resilience framework for stock exchanges, clearing corporations, and depositories.