NSE and IIT Kanpur signs MoU to strengthen cyber security solutions for Indian capital market

NEW DELHI, JANUARY4: The National Stock Exchange of India Ltd. (NSE) signed a Memorandum of Understanding (MoU) with IIT Kanpur, one of the premier technology institute’s in the country to work together on industry-leading Cyber Security solutions and practices.

The NSE-IIT Kanpur partnership aims to develop and create an environment to not only negotiate and deal with the current and future cyber security challenges in the Indian financial and capital markets ecosystem, but also to develop tools to further strengthen the cyber security framework.

Speaking on the occasion, Mr. Vikram Limaye, MD & CEO, NSE said, “This is a great opportunity for NSE to collaborate with the academia to augment its position as a thought leader and leading adopter of cutting edge technologies in the field of cyber security. NSE is proud to associate with IIT Kanpur in this endeavour and help in enhancing the cyber security posture of India’s capital markets. This partnership will significantly bolster our established cyber security practices and defence strategies. This collaboration will also contribute immensely to the capital market ecosystem and assist our members in adopting best in class industry practices.”

Prof Abhay Karandikar, Director, IIT Kanpur said, “The C3I centre at IIT Kanpur has developed cyber security products with cutting edge technologies and this is a great platform to adapt and launch it for the Indian capital markets. IIT Kanpur’s ongoing work in the Critical Infrastructure domain will enable it to make the capital market space much stronger to defend against cyber-attacks. NSE, being an institution of national importance and a part of the critical infrastructure of India, this engagement will ensure greater confidence for investors in the Indian capital markets.”

Through this engagement, IIT Kanpur faculty would help NSE in the areas of Cyber Security. IIT Kanpur would undertake to support NSE’s security posture and as a leader in financial space with a strong emphasis on cyber security.

NSE, being an institution of national importance, and IIT Kanpur, having set up the Cyber Security and Cyber Defence of Critical Infrastructures Centre, together intend to develop cutting edge solutions to improve cyber security practices and solutions for the Indian capital market ecosystem and NSE’s cyber security infrastructure.

IIT Kanpur has established a C3I Centre (Cyber Security and Cyber Defence of Critical Infrastructures) funded by the Science and Engineering Research Board, Department of Science and Technology, Govt. of India. The centre is engaged in research on cyber security and cyber defence of critical infrastructure including financial market infrastructures in the country. The Centre has multiple faculty and is working on cutting edge research in security assessment, vulnerability detection, cyber threat modelling, security incident management solutions, block chain based deterrent to insider attacks and many other topics of relevance to NSE and the Indian capital markets.