Sebi plans to strengthen firewall

New Delhi: Sebi will deliberate with its board next month on putting in place a long-term cyber security framework for markets amid concerns over malicious software script targeting systems and possible data breaches.

With technology-based platforms and high-speed algorithmic systems becoming key fulcrums for trading activities, Sebi’s focus is on bolstering the existing framework and ensure a robust firewall is in place to thwart possible cyber attacks.

The Sebi’s efforts to put in place long term plans for cyber security of the market place also come against the backdrop of exchanges facing technical glitches and spate of suspected cyber attack cases globally, including in India.

Sources said a detailed discussion on cyber security issues are expected during the meeting of the Sebi board, which is scheduled for September 18.