National Stock Exchange of India Ltd. (NSE), India’s leading stock exchange organized the NSE Future Tech 2018, which brought together the global and local opinion makers into a conversation about the technology, its ramifications and the extent to which cybersecurity threats are a reality in today's world. On the backdrop of a new dimension of privacy and compliance now coming to the fore, the cybersecurity experts emphasised on initiating steps to help mitigate the subsequent risk arising out of these sensitive threats.
Collective and well-collaborated effort by strongly Interlinked Capital Market Eco-system, comprising of Exchange platforms, the Trading, Depository and Clearing Members, and striking a fine balance in financial costs to successfully thwart them, in an era of data privacy and compliance, have emerged as the key twin challenges before the cybersecurity practitioners across the globe, in mitigating cybersecurity threats.
Speaking on the occasion, Mr Vikram Limaye, MD & CEO, NSE said: “As leaders in the capital market space, it is our responsibility to set the standards and the FutureTech series is one of the many initiatives taken up by NSE to bring about the change through talent empowerment and investment in innovation. Our focus is on building resiliency and security to ensure that the capital markets and its constituents are able to provide the services that they are intended for.’’
It is in this context that the Capital Market eco-system is considered as one of the important segment in the National Critical Infrastructure (NCI) of any economy and rendering it vulnerable and susceptible to cyber breaches or security threats would damage and impair the economic and social fabric of the nations.
A typical exchange platform today has a fully-integrated capital market infrastructure comprising listings, trading, clearing and settlement, indices, market data feeds, technology solutions and financial education offerings and any of the individual segment getting impacted by the cyber attack would potentially upset the financial, economic and even social fabric of countries.
Global and local cybersecurity practitioners discussed and analyzed the ramifications of the possible cyber security attacks in the Financial and Capital markets eco-system, and emphasized on building the required resilience in the National Critical Infrastructure (NCI) organizations in the overall Capital Market segment, to help combat and withstand them.
During the event, the global and local cybersecurity practitioners discussed and analysed the risks and threats facing NCI organisations, and how the organisations can build the resilience needed to withstand a cyber-attack with the increasing costs of security and how to manage them.
There were various sessions held by eminent speakers like Mr. Steve Ledzian, Sr. Director – FireEye who spoke on Cyber Security Risk for the Financial Services Industry. Dr. Ajeet Bajpai, Director-General – NCIIPC shared his views on Protecting Critical Infrastructures.
The event is a part of the series of conferences that NSE has been conducting since 2014, the Future Tech conference series by NSE looks at technologies that are expected to have a significant impact on Capital Markets and brings together global and local audiences into a conversation about the technology, its ramifications and the extent to which it is a reality in today's world. The conference tries to separate marketing hype from actionable reality while looking ahead at how things change....