Latest news with #NationalInstituteofSecuritiesMarkets
New Indian Express
17 hours ago
- Business
- New Indian Express
Cyberattacks: Sebi chief Pandey calls for stronger defence
MUMBAI: With the rising incidents of public falling victims to cyber crimes, Securities and Exchange Board chairman Tuhin Kanta Pandey has called for constant vigilance, regular incident-response drills, and forensic readiness to protect stock exchanges and investors from such escalating online threats. Speaking at a cybersecurity training programme at the Sebi-run National Institute of Securities Markets (NISM) near here on Thursday, Pandey, according to the speech shared by Sebi late last night, warned that even the perception of vulnerability can unsettle markets, irrespective of the immediate financial losses. Recalling the July 2010 Nasdaq breach, where hackers had gained accessed to a system used by corporate boards to share confidential documents, he noted that while trading was unaffected, the incident 'deeply shook the confidence of the market in general and investors in particular.' On July 18, attack a Russian cyber hack had compromised the world's largest tech-stocks listed trading platform primarily targeted the exchange's directors desk portal but not limited to it. Sebi has, in recent years, strengthened cybersecurity norms, mandated regular cyber audits, and tightened reporting on technical glitches across exchanges, clearing corporations, depositories, and market intermediaries, Pandey said, adding 'safeguarding these market utilities is essential for capital formation, investor trust, and economic resilience.' Reeling out the numbers of cyberattacks in the country, he said such attacks are no longer rare as the country has seen over 2 million security incidents in 2024, according to CERT-In, nearly double the pre-pandemic levels. 'A small glitch in a trading algorithm can trigger market disruption in milliseconds. A misconfigured server can give malicious actors a way in. A compromised account can lead to damaging data leaks,' Pandey said, citing the August 2012 Knight Capital trading fiasco that caused $440 million in losses due to faulty trading software.
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Business Standard
2 days ago
- Business
- Business Standard
Sebi chairman urges stronger vigilance to defend markets from cyber risks
Tuhin Kanta Pandey, Chairman of the Securities and Exchange Board of India (Sebi), on Thursday stressed the need for constant vigilance, regular incident-response drills, and forensic readiness to guard against escalating cyber threats. Speaking at a cybersecurity training programme for regulated entities at the National Institute of Securities Markets (NISM), Pandey warned that even the perception of vulnerability can unsettle markets, irrespective of immediate financial losses. Recalling the 2010 Nasdaq breach — in which hackers accessed a system used by corporate boards to share confidential documents — he noted that while trading was unaffected, the incident 'deeply shook confidence'. Sebi has, in recent years, strengthened cybersecurity norms, mandated regular cyber audits, and tightened reporting on technical glitches across exchanges, clearing corporations, depositories, and market intermediaries. Safeguarding these 'market utilities', he added, is essential for capital formation, investor trust, and economic resilience. 'A small glitch in a trading algorithm can trigger market disruption in milliseconds. A misconfigured server can give malicious actors a way in. A compromised account can lead to damaging data leaks,' Pandey said, citing the 2012 Knight Capital fiasco that caused $440 million in losses due to faulty trading software. He stressed that internal lapses — such as inadequate checks, rushed deployments, or overlooked processes — can be as damaging as external threats. 'Technology risk isn't always about defending the gates. Sometimes it's about ensuring the castle's own walls are strong,' he remarked. Pandey also underlined the human factor as a critical line of defence, noting that negligence and phishing attacks often open the door to breaches. 'Proactive measures reduce both the probability and the impact of incidents. Reactive measures merely limit damage after trust has already been dented,' he said. In closing, Pandey told the participants that their quiet efficiency would likely never make headlines — but that the absence of crisis is their greatest professional achievement. 'Behind the seamless flow of billions in our markets lies your invisible vigilance.'
Time of India
23-06-2025
- Business
- Time of India
Financial literacy quiz for students
Mumbai: The National Institute of Securities Markets (NISM), in collaboration with the Securities and Exchange Board of India (SEBI), launched the National Financial Literacy Quiz (NFLQ) 2025. It began with the eastern regional round on June 21–22 in Kolkata with participants from 60 undergraduate and 50 postgraduate institutes. Also, 2.5 lakh students nationwide participated in an online quiz. Sashi Krishnan, director of NISM, said: "NFLQ 2025 is part of their efforts to spread awareness about financial markets, investor rights and the role of market intermediaries. More regional rounds will be held in five cities. The final round will be held on NISM Campus at Patalganga in Maharashtra on Nov 8-9." Mumbai: The National Institute of Securities Markets (NISM), in collaboration with the Securities and Exchange Board of India (SEBI), launched the National Financial Literacy Quiz (NFLQ) 2025. It began with the eastern regional round on June 21–22 in Kolkata with participants from 60 undergraduate and 50 postgraduate institutes. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Undo Also, 2.5 lakh students nationwide participated in an online quiz. Sashi Krishnan, director of NISM, said: "NFLQ 2025 is part of their efforts to spread awareness about financial markets, investor rights and the role of market intermediaries. More regional rounds will be held in five cities. The final round will be held on NISM Campus at Patalganga in Maharashtra on Nov 8-9."
