Sebi asks exchanges to keep vigil on cyber threats

Capital market regulator Securities and Exchange Board of India (Sebi) on Friday asked stock exchanges to keep a "constant vigil on the cyber threat landscape around the world and take lessons from such incidents."

The market regulator advised exchanges and other market infrastructure institutions (MIIs) to have a collaborative approach in dealing with technological challenges including cyber threats.

Sebi chairman Ajay Tyagi met with chief executive officers (CEO) and chief technology officers (CTOs) of MIIs, including that of National Stock Exchange and BSE.

The meeting was called following the technical glitch faced by NSE earlier this month. The glitch had stalled the exchange trading for three hours month.

At the meeting, NSE told it has strengthened process to reduce the response time for recovery.

Sebi asked exchanges to share information on technology-related disruptions.

"MIIs confirmed that the comprehensive framework for cyber security and system audit prescribed by Sebi is modelled on international best practices and are being followed," Sebi said in a press release.