BSE ties up with Lucideus under Sebi's cyber security framework

Leading stock exchange BSE Tuesday said it has signed a pact with John Chambers-backed software security firm Lucideus to thwart cyber attacks and secure stockbrokers' interest as per Sebi guidelines.

Lucideus will provide a cybersecurity operations centre (SOC) using artificial intelligence and machine learning-backed Security Assessment Framework for Enterprises (SAFE) platform/solution, BSE said in a release.

Last month, Sebi had asked market infrastructure institutions to set up round-the-clock cybersecurity operation centre manned by dedicated security analysts to identify, respond and prevent cyberattacks.

"SAFE will be able to provide the entire broker community a single-click subscription option, where they can opt into the solution that will be offered via Marketplace Tech Infra services (a wholly-owned subsidiary of BSE)," the release said.

"The on-premise box solution will host open-source tools along with the SAFE software that will aggregate insights from each terminal and sense the network security controls to send them along with the syslogs to SAFE to be processed in real-time," it said.

"By associating with Lucideus, we aim to strengthen the cybersecurity framework, tackle all the challenges pertaining to capital markets ecosystem and adhere to Sebi's guidelines to protect the integrity of data and guard against breaches of privacy," BSE Chairman S Ravi said.

Lucideus aims to make cyber risk an informed business decision such that it will allow the security team to communicate to the non-tech specialists like business unit leaders and board about the cybersecurity posture of the enterprise, said Lucideus CEO and co-founder Saket Modi.

In October, the company had raised USD 5 million in funding led by Cisco Chairman Emeritus John Chambers.