HomeStock MarketBuch, Sebi chief, says stock exchanges preparing for cyberattacks.

Buch, Sebi chief, says stock exchanges preparing for cyberattacks.

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  • On October 28, Sebi Chairperson Madhabi Puri Buch announced that the National Stock Exchange and Bombay Stock Exchange, India’s two major stock exchanges, are building a cyber attack mitigation mechanism.
  • She told an Indiain Institute of Management Bangalore event that under the new approach, all trade data of clients with one exchange will be stored at servers of the other exchange to prevent cyber attacks from disrupting the market.
  • Buch said that if exchange A goes down due to a cyber attack and Sebi determines that the exchange’s disaster recovery site won’t be up in time, the regulator will “press the button for that data to be uploaded on exchange B’s systems” so that every participant can operate as if it were on exchange A.

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