Media Release

BSE signs MoU with IIT Kanpur

Mumbai, Wednesday, August 03, 2016:  BSE today has entered into a Memorandum of Understanding (MoU) with the renowned Indian Institute of Technology, Kanpur.

The key highlights of the MoU includes

ü  Cooperation for cyber security research in financial markets

ü  Developing and fostering an environment to deal with current & future cyber security challenges

ü  Develop tools to strengthen cyber security and advise BSE in its cyber related issues

ü  Assist BSE in testing its vulnerabilities in IT system and network

ü  Forming guidelines and auditing security operations

BSE has over the years adapted to newer and better technologies making it the world’s fastest exchange with a median trade speed of 6 microseconds. The leading bourse of India has also adopted various technology programmes to give better experiences to its trading members.

On this occasion Shri Ashishkumar Chauhan, MD&CEO, BSE said, “BSE is now the fastest exchange in the world with the speed of 6 microseconds response time. It has started leading the world exchanges in technological capabilities in several areas. Cyber security is a clear, persistent and present threat to BSE and the entire financial system. BSE has an onus to create comprehensive robust and resilient cyber security framework. IIT Kanpur is India’s leading academic institute in computer science. A research tie-up with them will enhance the academic – corporate collaboration. I hope that this research tie-up will yield excellent results for Indian financial system in cyber security hence I invite other financial institutions to join this research initiative to make it more comprehensive and effective.”  

Professor Indranil Manna, the Director, IIT Kanpur added, “IIT Kanpur has recently established a new center for cyber security drawing upon a diverse set of expertise in computer science including algorithmics, networking, cyber security, cryptography, machine learning and data mining, formal methods, computer architecture and system design, databases, and number theory. This center is engaged not only in developing cutting edge cyber security technologies, but also in developing close ties with the government organization and industries in India to develop relevant technology, methodologies and frameworks to keep the country's cyber space secure. In this vein, the MOU with the BSE is pivotal for IIT Kanpur to work with the financial sector to innovate and consult with the financial infrastructure sector. While the charter of the IIT Kanpur center is wider covering cyber security of all classes of critical infrastructures, protecting the financial markets, and infrastructure is of immense importance. IIT Kanpur is very happy to partner with BSE in this joint cyber security initiative.”

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