SEBON steps up effort to prevent cyber attacks in stock exchange platform
Summary
SEBON has proposed a central data bank and multilayered backup measures to protect Nepal’s stock exchange data from cyber attacks. The new policy follows a ransomware attack on NEPSE’s trading platform that disrupted secondary market trading for a day.
Key Points
- SEBON plans to develop a separate central data bank to keep stock market data stored within Nepal and improve data safety.
- The new policy calls for immutable snapshots, air-gapped backups, and a stronger disaster recovery mechanism for market infrastructure institutions.
- NEPSE’s TMS trading platform was previously hit by a ransomware attack that disrupted secondary market trading for a full day.
- SEBON will require regular IT audits, with annual audits for market infrastructure institutions and biennial audits for other market participants.
