IIT Kanpur to enhance cyber domain security of BSE

Indian Institute of Technology, Kanpur (IIT-K) on Thursday entered into a Memorandum of Understanding (MoU) with the Bombay Stock Exchange (BSE) to help enhance the cyber domain security of the bourse.

BSE has over the years adapted modern technologies, making it the world's fastest exchange with a median trade speed of 6 microseconds. Besides, it has also adopted technology programmes for providing better trading experience to its members.

"BSE has initiated technology programmes for the benefits of trading members. It is our corporate technological responsibility now to ensure the safety and security needs arising therewith," BSE Managing Director and Chief Executive Ashish Kumar Chauhan said on the occasion.

The collaboration was a step towards developing and enhancing cyber security research for the benefit of the financial markets, he added. "It gives me immense pleasure to announce this tie-up between the best of the corporate and the education worlds. We look forward to developing ground-breaking tools and methods to secure our markets."

Meanwhile, IIT-K Director Prof Indranil Manna said that the Institute had recently established a new centre for cyber security drawing upon expertise in computer science including algorithmics, networking, cyber security, cryptography, machine learning and data mining, formal methods, computer architecture and system design, databases and number theory.

The Centre is engaged not only in developing cutting edge cyber security technologies, but developing close ties with the government organisation and industries in India to develop relevant technology, methodologies and frameworks to keep India's cyber space secure.

The MoU was pivotal for IIT-K to work with the financial sector to innovate and consult with the financial infrastructure sector. "The Institute is happy to partner with BSE in this joint cyber security initiative," Manna added.

The key features of the MoU include cooperation for cyber security research in financial markets, foster environment to deal with current & future cyber security challenges, developing tools to strengthen cyber security and advise BSE in cyber related issues, assist BSE in testing vulnerabilities in IT system and network and forming guidelines and auditing security operations.