Author: Sandeep K Biswal

In this blog, we’re exploring the topic of cybersecurity and its importance for Market Infrastructure Institutions (MIIs) in the Securities Market, thanks to SEBI’s latest guidelines.

The securities market is a hub of financial activity, and it’s no secret that this makes it a prime target for cyber-attacks. From stock exchanges to clearing corporations, MIIs play a vital role in keeping this financial ecosystem ticking. With SEBI’s guidelines, they need to have a robust cyber security framework for the smooth and uninterrupted functioning of the securities market.

So, what exactly do these guidelines cover?

Well, they cover a range of cyber-related aspects, from risk management to governance, incident reporting, and even setting up a robust cybersecurity framework. Broadly, the MIIs are required to:
● Identify and Assess Risks: Just like we lock our doors at night, MIIs need to identify potential threats and vulnerabilities in their systems.
● Establish Governance Frameworks: Think of this as having a captain steering the ship. MIIs need clear policies and procedures for managing cybersecurity risks.
● Incident Reporting: When something goes wrong, it’s crucial to report it ASAP. This helps in dealing with the issue swiftly and effectively.
● Security Awareness Programs: Educating staff and stakeholders about cybersecurity is like teaching them self-defence. It’s a must!
● Cyber Resilience Testing: Imagine running a fire drill at your workplace. Similarly, MIIs must simulate cyber incidents to prepare for the real scenarios.

Conclusion
To comply with the SEBI guidelines, MIIs must re-skill their existing workforce or employ new cybersecurity and cyber resilience professionals. If you have a passion for cybersecurity and want to take your knowledge to the next level, check out the NISM eLearning course Certificate in Cyber Security Foundation. It’s your chance to become a cybersecurity professional and contribute to the safety of your organization.