This archive report was first published on 5 September 2019.
As technology and markets continue to grow in sophistication, possible intrusion, manipulation, and cyber misconduct are threats that must be appreciated at all levels.
According to a 2019 report by the International Organization of Securities Commissions (IOSCO) and World Federation of Exchanges (WFE), approximately 50 percent of the securities exchanges worldwide were the subject of cyber-attacks in 2018.
The Computer Misuse and Cybercrime Act 2018 has been instrumental in building conversations around cybersecurity, laying the foundation for subsequent national regulations, including the 2018 Data Protection Bill.
More recently, the Distributed Ledgers Technology and Artificial Intelligence Task Force has highlighted the need for open discussions on the role of transformative technologies in driving the fourth industrial revolution.
The IOSCO Board has also devoted considerable effort to raise awareness of existing International cyber guidance, encouraging the adoption of good practices among the IOSCO regulatory community.
As the Nairobi Securities Exchange and Central Depository and Settlement Corporation upgrade their IT infrastructure, the effective installation of strong cyber security networks will be critical to cement the role of the market infrastructure institutions in serving the overarching objective of enhancing market integrity, transparency and operation of an efficient and risk-free trading, clearing & settlement system.
Thursday, September 5, 2019
