NE NEWS SERVICE
MUMBAI, DEC 20
In its endeavor to strengthen cyber security services and safeguard the interests of its stockbrokers, BSE on Friday announced that it has entered into a pact with security services provider Si Consult.
The move comes after markets regulator, Securities and Exchange Board of India (Sebi), in December 2018 put in place a stricter cyber security framework for stock brokers and depository participants amid concerns over possible data breaches. Sebi had asked brokers and depository participants to formulate comprehensive cyber security and cyber resilience policy document encompassing the framework.
“After a detailed assessment, and capabilities evaluation by BSE, Si Consult has been selected as one of its partners to provide these services to its members,” the exchange said in a release.
“Besides adhering to Sebi’s guidelines to protect the integrity of data and guard against breaches of privacy, at BSE our constant endeavour is to secure interests of stockbrokers with the help of cutting-edge technologies and security services,” said Shivkumar Pandey, Chief Information Security Officer at BSE.
By associating with Si Consult, we will be in a better position to tackle all the challenges pertaining to capital markets ecosystem, he added.
Sanket Khanolkar, MD-APAC & COO to Si, expressed that “We at Si Consult are very proud and excited to partner with BSE for delivering cutting-edge cyber security services to the Stockbroker community. I am very confident that our service portfolio is compliant with SEBI’s ‘Cyber security & Cyber Resilience framework’ and provides unparalleled protection against emerging cyber threats. BSE’s stockbrokers are now in safe hands and can focus on trading while we take care of their cyber security.”
Remarking on the partnership, Nilesh Burghate, Head-Global Security Operations Center SI said, “We are delighted to partner with BSE, and to provide our world-class cyber security services. There are three key pillars to delivering successful cyber security services – best technology, experienced people and evolved & robust processes. Si Consult has the right combination and balance of these elements.”
Si’s CEO, Feras Tappuni, said, “This is a fantastic opportunity for both Si and BSE to build a partnership of real value, resilience and visibility. BSE and the Stock Broker Community, now has access to the industry best people, process, infrastructure and technology; all delivered from our Global SOC in Pune using our flagship platform – SecurityHQ.”
Si Consult offers customised service in areas of—managed detection and response, vulnerability management, firewall management, threat intelligence, Digital foot-printing and third-party risk among others.
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